My wife and I are looking to purchase a property in Eccleshall and are in fact using a Eccleshall conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Santander have this afternoon contacted us to advise us that they have now hit a problem as our Eccleshall conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Eccleshall solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Have just purchased a repossessed house at auction in Eccleshall. Conveyancing is necessary. What are my next steps?
Given that you are now exchanged you must hire the services of a conveyancing lawyer quickly as you now have a tight a fixed date to complete the conveyancing. An auction property will ordinarily have a corresponding legal pack. This will include evidence of title and search results. Where you are dealing with leasehold property the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You need to hand this to the lawyer working for you at the earliest opportunity. You also need to ensure that you have funds in order to complete on the on the contractual date .
I'm the single beneficiary of my late grandmother’s estate and I have everything in my name alone, including the my former home in Eccleshall. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the property. I do know about the CML 6 month 'rule', which means that my proprietorship will be regarded the same way as though I had purchased the house in January. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Some banks would take a sensible view as this clause is primarily there to pick up on subsales or the wholesaling and assigning of property.
When it comes to lenders such as Barclays, do Eccleshall lawyers incur a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I require fast conveyancing in Eccleshall as I am under an ultimatum to sign on the dotted line inside 2 weeks. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
As you are not taking a home loan you are at liberty not to do searches although no solicitor would recommend that you don't. With lots of history conveyancing in Eccleshall the following are instances of what can appear and therefore affect the marketability of the property: Enforcement Actions, Overdue Charges, Overdue Grants, Road Schemes,...
I have been on the look out for a flat up to £235,500 and identified one round the corner in Eccleshall I like with open areas and transport links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Eccleshall in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage that many years may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities 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 lawyer regarding this.
Taking into account that I will soon spend 450k on 3 bedroom house in Eccleshall I would like to have a conversation with the conveyancer about myhome move prior to instructing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you first talking to the conveyancer who will be doing your conveyancing in Eccleshall.There is no ‘factory style conveyancing’ - every client is unique person, not a matter number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Eccleshall should be the amount on the final invoice that you end up paying.
My sealed bid on detached house in Eccleshall was accepted, but there is a chain. The vendors have offered on a flat, however it’s not been accepted yet, and are looking at other properties booked. I have chosen a local conveyancing solicitor in Eccleshall. What should be my next step? When should I get the mortgage application with Kent Reliance started with Kent Reliance?
It is standard to have concerns where there is a chain given your reluctance to incur costs prematurely (mortgage application is in the region of £1k, then survey, Eccleshall conveyancing search charges, etc). The first thing to do is ensure that your solicitor is on the Kent Reliance conveyancing panel. Regarding the subsequent phase this very much dictated by the uniqueness of your transaction, desire for this property and on the state of the market. In a hot market the majority of purchasers will apply for the mortgage with Kent Reliance and pay for the survey and only if it comes back ok would they pay their lawyer to press on with the conveyancing in Eccleshall.