I am selling my maisonette in Long Buckby and the estate agent has just e-mailed to advise that the purchasers are changing their conveyancer. The reason given is that the lender will only deal with solicitors on their conveyancing panel. Why would a big named lender only deal with specific solicitors rather the firm that they want to select for their conveyancing in Long Buckby ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks justify this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
Can the conveyancing lawyers highlighted through your ’find a lawyer’ tool conduct right to buy conveyancing in Long Buckby?
We have identified plenty of conveyancing solicitors who can handle right to buy conveyancing You should contact us with a view to get a costs illustration.
It is a dozen years since I purchased my home in Long Buckby. Conveyancing solicitors have just been appointed on the sale but I can't track down my title documents. Is this a problem?
Don’t worry too much. First the deeds may be kept by the mortgage company or they could be archived with the lawyers who handled the purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. Nearly all conveyancing in Long Buckby involves registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
How does conveyancing in Long Buckby differ for new build properties?
Most buyers of new build premises in Long Buckby contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because builders in Long Buckby usually buy 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 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 Long Buckby or who has acted in the same development.
I am looking into buying my first house which is in Long Buckby and I am already nervous. I couldn't find anything specific about Long Buckby. Conveyancing will be needed in due course but do you know about the Long Buckby area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Long Buckby. In the meantime here are some basic statistics that we found
I am just shy of a 10% deposit on my apartment purchase in Long Buckby , but I am anxious go ahead. Do I have options?
You can agree a lesser deposit. Most vendors 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 moment