I was informed yesterday by my IFA that my Gloucestershire the law firm I have appointed is not on the mortgage company Conveyancing panel. What can I do to be sure whether this is correct?
The first thing you need to do is to contact your Gloucestershire conveyancer. You lawyer should inform you of the situation. If they are not on the panel they may recommend you to a Gloucestershire conveyancing firm that is on the conveyancing panel for your bank.
When does exchange of contracts occur in domestic conveyancing in Gloucestershire and am I required to be at the lawyers office?
Where you are near to one of the conveyancing solicitors in Gloucestershire you are invited in to sign contracts. That being said, the law practices we recommend offer a countrywide conveyancing service and provide as equally detailed and professional a job for you when dealing with you by post or email. The executing of the contract is not when everything is set in stone. Signing on the dotted line simply enables the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Gloucestershire)to be in the office available at the end of the phone to exchange contracts.
My property lawyer in Gloucestershire has never been on on the Leeds Building Society Approved Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Leeds Building Society approved list?
Your options are as follows:
- Complete the purchase with your existing Gloucestershire solicitors but Leeds Building Society will need to retain a lawyer on their list of acceptable firms. This will result in additional overall conveyancing charges and result in delays.
- Find a new lawyer to to deal with the purchase, obviously checking they are Convince your lawyer to use their best endeavours to join the Leeds Building Society conveyancing panel
How does conveyancing in Gloucestershire differ for newly converted properties?
Most buyers of new build property in Gloucestershire contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Gloucestershire tend to 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 property lawyers 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 Gloucestershire or who has acted in the same development.
My father has suggested that I appoint his conveyancers in Gloucestershire. Should I use them?
Much as we are happy to recommend a Gloucestershire conveyancing lawyer it’s preferable to select a conveyancing lawyer is to seek referrals from friends or family who have actually experience in using the solicitor that you are considering.
I have miscalculated my finances and am a couple of grand short a 10% deposit on my flat purchase in Gloucestershire , but I still want to go ahead. What can I do?
One option is to try and agree a smaller deposit. Most property owners will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute