Is the fact that my conveyancer in Horley is not identified on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
That is most likely a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Horley conveyancing firm and enquire why they are no longer on the approved list for your bank.
My aunt pointed out to me me that in buying a property in Horley there may be various restrictions preventing external alterations to the property. Is this right?
There are a number of properties in Horley which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Horley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Skipton, do Horley property lawyers incur an annual charge to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have finally had an offer on a flat in Horley accepted, but there is a chain. The sellers have offered on a flat, however it’s not yet agreed to, and have viewings of other properties booked. I have selected a high street conveyancing solicitor in Horley. What should be my next step? At what point should I apply for the mortgage with Barclays?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx £1k, then valuation, Horley conveyancing search fees, etc). First, you should ensure that your lawyer is on the Barclays conveyancing panel. As to the subsequent phase this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot market the majority of buyers will apply for a home loan with Barclays and pay for the valuation and only if it was satisfactory would they pay their lawyer to proceed with searches.
What will a local search tell me regarding the property we're buying in Horley?
Horley conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search plays a central role in many a Horley conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
Are there restrictive covenants that are commonly identified as part of conveyancing in Horley?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Horley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Horley differ for newly converted properties?
Most buyers of new build premises in Horley contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Horley usually 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 accustomed to new build conveyancing in Horley or who has acted in the same development.
My estate agent has suggested using their conveyancer for the conveyancing in Horley - Surely it’s easier to just instruct them?
This is not necessarily the case and you are free to instruct whichever property lawyer you decide for your Horley conveyancing. The conveyancing practitioner put forward by an estate agent may not always be the best property lawyer, they may suggest their own conveyancing firm who are based far away. In this instance you may not have contact with your conveyancer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.