Can you clarify what the consequences are if my lawyer’s firm is removed from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Leatherhead?
The first thing to point out is that, this is a very rare occurrence. 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.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Leatherhead. Do I pick up the keys to the property on the completion date from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Leatherhead?
On the day of completion you will not be required to attend the conveyancers office in Leatherhead. Conveyancing lawyers for you will transfer the completion advance to the vendor’s lawyers, and once they have received this, you will be able to pick up the keys from the Estate Agents and move into your new home. Usually this happens between 1 and 3pm.
Can I be sure that the Leatherhead conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Leatherhead obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your transaction.
Coventry BS have agreed my mortgage in principle, my bid on a property in Leatherhead has been accepted, what happens next?
Your estate agent will want to know who your solicitors are (be sure the conveyancers are on the bank’s panel). Contact Coventry BS or your broker and complete any appropriate forms. Coventry BS will instruct a valuer who will get in touch with the estate agent or owners to arrange a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. Coventry BS 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 Leatherhead.
How does conveyancing in Leatherhead differ for newly converted properties?
Most buyers of new build property in Leatherhead come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Leatherhead tend to buy the land, 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 used to new build conveyancing in Leatherhead 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 last month in what should have been a simple, no chain conveyancing. Leatherhead is where the house is located. Can you shed any light on this issue?
Flying freeholds in Leatherhead are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Leatherhead you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leatherhead may decide 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.
Given that I will soon spend over three hundred thousand on a garden flat in Leatherhead I would like to have a conversation with the solicitor regarding theconveyancing in advance of instructing the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you first talking to the lawyer who will be carrying out your conveyancing in Leatherhead.There is no ‘factory style conveyancing’ - every client is an important individual, not a file reference. The practices that we put you in touch with believe that the figure you are provided with for residential conveyancing in Leatherhead should be the amount on the final invoice that you end up paying.
I am about to complete on the purchase a house in Leatherhead but as a result of wreckage from the recent storms I have agreed recompense from the seller of £2k in the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process but my mortgage company will not agree to this. Why were they involved?
Any lawyer being on the mortgage company approved list is obliged to disclose to the lender of any changes to the purchase amount. In the event that you did not allow your conveyancer to notify the reduction to your lender then they would have to discontinue acting for you and the bank.