What happens if my lawyer’s firm is removed from the Clydesdale Solicitor panel ahead of completing my conveyancing in Henbury?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I had a mortgage agreed in principle with Nottingham. Henbury conveyancing solicitors are selected. How long does it take for Nottingham to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have Nottingham conducted the valuation? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The formalities of my purchase has taken place for my property in Henbury. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
RBS have agreed my mortgage in principle, my bid on a property in Henbury has been agreed to, what happens next?
The estate agent will need to be informed of your conveyancing practitioner's details (be sure the conveyancing practitioners are on the bank’s panel). Telephone RBS or your financial adviser and complete any relevant documentation. RBS will appoint a valuer who will get in contact with the estate agent or vendor to book a slot for the valuation to take place. Once carried out (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. RBS will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Henbury.
Will our lawyer be making enquiries about flooding as part of the conveyancing in Henbury.
Flooding is a growing risk for solicitors specialising in conveyancing in Henbury. Plenty of people will purchase a house in Henbury, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, however there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Henbury. The conventional set of information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to discover if the premises has ever been flooded. In the event that flooding has previously occurred which is not revealed by the vendor, then a purchaser could commence a compensation claim stemming from an inaccurate response. The purchaser’s conveyancers should also conduct an enviro search. This will indicate if there is a recorded flood risk. If so, further inquiries will need to be initiated.
How does conveyancing in Henbury differ for newly converted properties?
Most buyers of new build premises in Henbury approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Henbury usually acquire 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 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 accustomed to new build conveyancing in Henbury or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and found one near me in Henbury I like with open areas and railway links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Henbury suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
When it comes to my conveyancing in Henbury should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Henbury conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.