When does exchange of contracts occur in sale conveyancing in Lindfield and am I required to be at the solicitors office?
Where you are near to one of the conveyancing solicitors in Lindfield you are invited in to sign contracts. That being said, the firms we recommend provide a national conveyancing service and give just as comprehensive and professional a job for you when communicating with you electronically. The signing of the contract is not the point of no return. A signed contract is necessary for the solicitor to officially exchange at the suitable time, 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 the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Lindfield)to be in the office available at the end of the phone to exchange contracts.
We're in Lindfield, First time buyers buying with a mortgage (lender is Lloyds , and our lawyer is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer 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.
Me and my partner are purchasing a apartment in Lindfield. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to send funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I can not work out if my lender requires a lease extension. I have called into my local Lindfield bank branch on a couple of occasions and was told it wasn't an issue and they will lend. My Lindfield conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their specific requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the lender approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Lindfield solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Lindfield postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Lindfield.
I used Wolstenholmes a few years past for my conveyancing in Lindfield. Now, I need my files but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lindfield of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing my first flat in Lindfield with a loan from TSB. The sellers would not reduce the amount so I negotiated £7000 of additionals instead. The estate agent told me not to tell my conveyancer about this deal as it will put at risk my mortgage with TSB. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm remortgaging my primary house to a buy to let mortgage with Santander and I will use the rest of the raised equity as a down payment on a second house. The area we are looking at is Lindfield. Will your lawyers be able to act for the two banks and link together the transactions?
Do use our search tool on this site to check that the lawyers are approved by both lenders. Assuming that they are the lawyer should be able to tie up the two transactions but you should have a chat with you solicitor and specify your expectations and needs.