Me and my fiance are planning to acquire a 2 bedroom flat in Oldland with a mortgage. We would like to retain our Oldland lawyer, however the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Oldland property lawyer and pay for one of their panel ones to act for them. We feel that this is inequitable; are we not able to require that the bank use our Oldland property lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Oldland conveyancing solicitor to apply to be on the conveyancing panel.
Is it realistic for conveyancing in Oldland to be done in 3 weeks?
In the event that the seller is applying a tight deadline to exchange we would recommend that your lawyer is familiar with the area as they will make use of local connections and knowledge. It is possible that they would have transacted previoushouses in the same neighbourhood. Therefore consider using a Oldland conveyancing firm. In addition, be sure that the conveyancing firm is on the member panel. It is estimated that 18% of Oldland conveyancing transactions are held up or jeopardised after discovering a purchaser’s conveyancer was not on their mortgage lender’s panel. This can often result in the transaction being frustrated by an average of three weeks. It is estimated that this issue impacts in the region of one hundred thousand home sales annually. Many Oldland conveyancing firms can not represent certain lenders so do check at the outset.
My bid for a property was accepted at auction in Oldland. Conveyancing is needed. What happens now?
Having legally bound yourself to purchase you must retain a conveyancing lawyer quickly as you are facing a pending a drop dead date to complete the deal. All auction property will have a corresponding auction set of papers. This will include evidence of title and search results. Where you are dealing with leasehold property the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You should hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that your finances are in place to complete on the date specified in the contract.
I am planning to move home in June. Should my conveyancing solicitor liaise with the removal company on the day of completion. On a separate note, can you put forward a removal company in Oldland. Conveyancing firm was organised prior to coming across your page.
On the day of completion you will need to collect the house keys from your estate agent however this can only be done after the vendors solicitors advise the agent that they have the completion monies and the keys can be released. You can advise the removal company that you are ready to move in. As a matter of policy we do not recommend a specific removal organisation but can help you choose a residential property solicitor in Oldland or a lawyer that specialises in conveyancing in Oldland.
RBS have agreed my home loan in principle, my offer on a property in Oldland has been accepted, what are the next steps?
The property agent will wish to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s panel). Contact RBS or the broker and finalise any relevant forms. RBS will sellect a valuer who will get in touch with the selling agent or seller to schedule a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. RBS will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Oldland.
Just acquired a detached house in Oldland , What is the estimated time for the Land Registry to record the transfer to my name? My Oldland conveyancing solicitor has been very slow, so I want to check the registration is concluded.
As far as conveyancing in Oldland is concerned, registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timescales can vary subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. As of today roughly 80% of submission are fully dealt with in less than three weeks but some can be subject to protracted delays. Historically registration occurs once the purchaser has moved in to the premises thus registration formalities is not usually primary concern yet where it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.
I have been on the look out for a leasehold apartment up to £305k and found one close by in Oldland I like with open areas and transport links nearby, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Oldland for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
Should I use a Oldland conveyancing solicitor who is local to the property I am hoping to buy? We have a good friend who can carry out the conveyancing however her office is 300miles away.
The benefit of a high street Oldland conveyancing firm is that you can drop in to execute documents, present your identification documents and pester them where appropriate. Having local Oldland know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were content that must trump using an unfamiliar Oldland conveyancing solicitor just because they are local.