We're in Martlesham, First time buyers buying with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS 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.
We are due to move property in January. Will my conveyancing solicitor liaise with the removal company on the completion day. Incidentally, can you recommend a removal company in Martlesham. Conveyancing lawyer was chosen before I stumbled across your site.
On the afternoon of completion you will need to pick up the keys from the property agent but this can only occur once the vendors lawyers advise the agent that the monies to complete are in and the keys can be collected. You will need to advise the removal company that you are ready to move in. We do not suggest a specific removal organisation but can help you choose a residential property solicitor in Martlesham or a solicitor that specialises in conveyancing in Martlesham.
My wife and I have arranged a further advance on our mortgage from HSBC as we wish to conduct a loft conversion to our house in Martlesham. Are we obliged to choose a high street Martlesham solicitor on the HSBC conveyancing panel to handle the paperwork?
HSBC do not ordinarily require firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC panel.
I have a mortgage with Virgin Money for my property in Martlesham. Conveyancing was finalised some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
Your original mortgage agreement with Virgin Money will provide that you need their approval before letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. You need not do this via a Virgin Money conveyancing panel firm.
Will our conveyancer be making enquiries concerning flooding as part of the conveyancing in Martlesham.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Martlesham. There are those who buy a house in Martlesham, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, however there are a number of checks that can be carried out by the purchaser or by their lawyers which can figure out the risks in Martlesham. The conventional set of property information forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to find out whether the premises has ever been flooded. In the event that the residence has been flooded in past and is not revealed by the vendor, then a buyer could commence a compensation claim resulting from an incorrect answer. A purchaser’s conveyancers may also conduct an environmental report. This should higlight whether there is a recorded flood risk. If so, additional inquiries should be initiated.
How does conveyancing in Martlesham differ for newly converted properties?
Most buyers of new build or newly converted property in Martlesham approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Martlesham typically buy 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 conveyancing solicitors 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 Martlesham or who has acted in the same development.
I have been sourcing a conveyancing solicitor in Martlesham for my remortgage. Can I check a solicitor's record with the profession’s regulator?
One can find documented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training purposes.
What are the specific advantages to selecting a local lawyer in Martlesham
Lots of house movers in Martlesham decide on using a nearby high street conveyancer so that they can visit if they have questions, and to execute mortgage deeds without using the post.
There is a distinct benefit when using a conveyancer nearby to a premises you are buying, due to the in-depth knowledge of the area and potential local concerns - nevertheless this is moot. The majority of conveyancers are now via email and could be any place in the world.