My fiance and I are looking to buy a house in Romney and are in fact using a Romney conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Barnsley Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Romney lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Romney lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
My partner and I have lately bought a property in Romney. We have noticed several problems with the house which we suspect were overlooked in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been conducted for conveyancing in Romney?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Romney. Conveyancing searches and due diligence undertaken as part of the buying process are designed to help avoid problems. As part of the legal transfer of property, a property owner completes a questionnaire known as a SPIF. If the information provided is misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Romney.
Can you explain why leasehold purchase conveyancing in Romney is more expensive?
Romney leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I had a mortgage agreed in principle with Yorkshire BS. Romney conveyancing lawyers were instructed. How long does it take for Yorkshire BS to issue the offer to the lawyer?
Some lenders take longer than others. Have Yorkshire BS done the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am currently in the process of buying my council flat in Romney. I have a mortgage offer with UBS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
I have instructed a Romney solicitor having made sure that they are on the Leeds Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society 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 conveyancer 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 Romney postcode. As you are getting a mortgage with Leeds Building Society, you could contact them to see if they have a list of approved surveyors in Romney.
I require expedited conveyancing in Romney as I am under a deadline to sign on the dotted line in less than one month. Luckily I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you have the choice not to have searches carried out although no law firm would recommend that you don't. Drawing on years of experience of conveyancing in Romney the following are instances of issues that can be revealed and therefore impact the marketability of the property: Refused Planning Applications, Overdue Fees, Overdue Grants, Railway Schemes,...
I decided to have a survey completed on a house in Romney prior to retaining lawyers. I have been informed that there is a flying freehold element to the property. The surveyor advised that some lenders will refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Romney. Conveyancing will be smoother if you use a solicitor in Romney especially if they are accustomed to such properties in Romney.