We're in Fleet, FTBs purchasing with a mortgage (lender is Co-operative , and our solicitor is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor 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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Fleet
There are two types of lawyers who can perform conveyancing in Fleet namely licenced conveyancers or solicitors. Both professionals handle the legal services that required to complete the disposal or purchase of property. Both are obliged to perform Fleet conveyancing to the same quality and guidelines so you may be sure that your conveyancing will be professionally administered and that all necessary procedures will be correctly adhered to.
I have been advised by my lawyer that chancel insurance is required on my purchase. What is the level of cover for Fleet conveyancing?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between HSBC Bank and Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such insurances.
We were going to get a OIP from Lloyds this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Fleet solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Fleet solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
Will my lawyer be raising questions regarding flooding as part of the conveyancing in Fleet.
Flooding is a growing risk for conveyancers dealing with homes in Fleet. Plenty of people will purchase a property in Fleet, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a number of searches that can be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Fleet. The standard information supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to find out whether the property has ever been flooded. If the property has been flooded in past which is not revealed by the seller, then a purchaser may commence a legal claim for losses resulting from an inaccurate answer. A buyer’s lawyers should also commission an environmental report. This will reveal whether there is any known flood risk. If so, more detailed investigations should be initiated.
How does conveyancing in Fleet differ for new build properties?
Most buyers of new build premises in Fleet contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Fleet usually buy the site, 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 used to new build conveyancing in Fleet or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Fleet is the location of the property. Can you shed any light on this issue?
Flying freeholds in Fleet are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fleet you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fleet may ascertain 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 residence.
In my capacity as executor for the estate of my uncle I am disposing of a house in Newport but reside in Fleet. My lawyer (approximately 300 miles from meneeds me to execute a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Fleet who can attest this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are based in Fleet