I have given 8 weeks notice to my existing landlord and have to be out of my let out property in Codsall by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in 5 weeks as I wish to avoid having to find short term accommodation?
It is unwise to serve notice on a rental until your lawyer suggests that you should. If you have not previously done so, speak to your conveyancer and ask them to they apply pressure on the owners lawyers, try to a target completion date that all parties will look to achieve
Do lenders provide you with an approved list of Codsall conveyancing solicitors? How do you know who is on the UBS conveyancing panel?
Codsall conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
We're in Codsall, First time buyers purchasing with a mortgage (lender is Principality , and our lawyer is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How does conveyancing in Codsall differ for newly converted properties?
Most buyers of new build property in Codsall come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Codsall usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Codsall or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a simple, chain free conveyancing. Codsall is the location of the property. Can you shed any light on this issue?
Flying freeholds in Codsall are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Codsall you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Codsall may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My property lawyer in Codsall has informed me that he requires personal identification documents saying that this is part of his legal duty as a solicitor on the lender Conveyancing panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Codsall