In the event thatI were to buy a straightforward homein Downe for cash and have no survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Downe?
Any savings you would gain will be isolated to the costs for searches. A lawyer is obliged to do the vast majority of work - money laundering, communicating with the sellers solicitor, SDLT return, register the ownership etc. You might save a bit for them not needing to register a charge but it will not be significant.
Is it the case that all Downe conveyancing solicitors on the Santander conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Santander conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
It is unclear whether my mortgage offer requires a lease extension. I have called into my local Downe building society branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Downe conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend in accordance with their published requirements. I simply don't know who is right.
Provided that the lawyer is on the mortgage company panel, they must adhere to the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my apartment. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Lloyds are being pedantic. The Downe solicitor who is on the Lloyds conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Lloyds are requiring a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Downe differ for newly converted properties?
Most buyers of new build residence in Downe contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Downe usually buy the land, 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 conveyancers 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 used to new build conveyancing in Downe or who has acted in the same development.
I am looking for a ground for flat up to £195,000 and found one close by in Downe I like with a park and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Downe in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan that many years may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
Is it possible to change conveyancer as I need to find a firm on the Skipton Building Society conveyancing panel. I was using a local conveyancing solicitor in Downe round the corner but the firm is not accepted by Skipton Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Downe on the Skipton Building Society panel. Please note that the property lawyers that we work with do not pay us fee if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Downe. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Downe.
We have had DIP from Nationwide Building Society who indicated we could borrow up to £117k. At what point do we need to instruct a practitioner for conveyancing? Downe is where we are buying.
It would be wise to instruct a solicitor now requesting that they create a file on your behalf. This will kickstart: 1) the estate agent to issue a Sales Memo to all parties 2) the seller’s conveyancer to send out the draft contract. That being said, do not ask your property lawyer to order searches until you have your valuation report via Nationwide Building Society and you are content to proceed.