We are purchasing a newbuild flat in Sawston with a mortgage from The Royal Bank of Scotland.We would like to retain our Sawston conveyancing solicitor but The Royal Bank of Scotland informed us she’s not listed on their approved list of firms. It seems we have no choice but to instruct a The Royal Bank of Scotland panel lawyer or keep our preferred solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that The Royal Bank of Scotland use our lawyer?
Unfortunately,no. The home loan offered to you contains various provisions, a common one being that lawyers needs to be on the The Royal Bank of Scotland solicitor panel. in the past, most mortgage companies had large numbers of solicitors 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 solicitors to apply to be on the conveyancing panel for The Royal Bank of Scotland
How does conveyancing in Sawston differ for new build properties?
Most buyers of new build property in Sawston contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Sawston tend to 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 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 accustomed to new build conveyancing in Sawston or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Sawston is where the house is located. Can you offer any guidance?
Flying freeholds in Sawston are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sawston you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sawston 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 property.
I'm converting the mortgage on my existing home to a buy to let loan with The Mortgage Works and I will use the rest of the raised equity as a down payment on another house. The neighborhood we are looking at is Sawston. Will your conveyancers be able to act for the two banks and link together the conveyances?
Do use our search tool on this page to ensure that the conveyancers are approved by both lenders. On the basis that they are the lawyer will be able to tie up the two transactions but you should have a chat with you conveyancer and make apparent your expectations and needs.
Is it best to instruct a Sawston conveyancing practitioner who is local to the property I am purchasing? An old friend can deal with the legal formalities however her office is a couple of hundredmiles away.
The primary upside of using a high street Sawston conveyancing practice is that you can pop in to sign paperwork, hand in your ID and pester them if necessary. Having local Sawston know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were happy that must surpass using an unfamiliar Sawston conveyancing lawyer just because they are based in the area.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Sawston. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Sawston ?
Most houses in Sawston are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Sawston so you should seriously consider shopping around for a Sawston conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.