I am expecting a offer of a home loan from Nat West. I intend to enlist the help of a Licensed Conveyancer in Sawbridgeworth. Does the Nat West Conveyancing panel allow for conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We're in Sawbridgeworth, First time buyers purchasing with a mortgage (lender is HSBC , and our lawyer is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no 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.
I am assisting my aunt sell her property in Sawbridgeworth. Will the conveyancing solicitor order the energy assessment or should I organise this?
After the abolition of Home Packs, energy performance certificates became a compulsory element of moving house. An energy performance certificate must be commissioned prior to the property being marketed. This is not something that law firms ordinarily arrange. If you are using a Sawbridgeworth conveyancing practitioner they might help arrange EPC’s due to their contacts with long established Sawbridgeworth assessors
I have a mortgage with RBS for my property in Sawbridgeworth. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS?
You must advise RBS prior to renting your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS 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 RBS directly. It should not be necessary to do this via a RBS conveyancing panel solicitor.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Sawbridgeworth building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Sawbridgeworth conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. I simply don't know who is right.
The conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What will a local search reveal regarding the house my wife and I buying in Sawbridgeworth?
Sawbridgeworth conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company such as Onsearch The local search plays a central role in most Sawbridgeworth conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your property. The search should supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Sawbridgeworth is the location of the property. Can you offer any opinion?
Flying freeholds in Sawbridgeworth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sawbridgeworth you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sawbridgeworth may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I'm selling a flat in Sawbridgeworth. I have found my conveyancer's company on the CLC list, but I can't see my lawyer's name as listed on the regulator's website. Should I be concerned?
Not every individual in the company must be listed by the regulator. Provided there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unlicensed staff.