We are planning to buy with Melton Mowbray Building Society. We have called around locally yet am struggling to find a Shooter's Hill conveyancing firm on the Melton Mowbray Building Society panel. Can you help?
Feel free to take advantage of the search tool on this web page. Please choose the building society and type Shooter's Hill or your preferred area and you will be presented with numerous conveyancers based in Shooter's Hill or nearest you.
We are buying a flat in Shooter's Hill. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to send funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
It is unclear whether my lender requires a lease extension. I have called my Shooter's Hill bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Shooter's Hill conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the solicitor is on the lender panel, they must adhere to the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Shooter's Hill solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC 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 property lawyer 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 Shooter's Hill postcode. As you are getting a mortgage with HSBC, you could contact them to see if they have a list of approved surveyors in Shooter's Hill.
Are there restrictive covenants that are commonly identified as part of conveyancing in Shooter's Hill?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Shooter's Hill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Shooter's Hill differ for newly converted properties?
Most buyers of new build residence in Shooter's Hill come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because developers in Shooter's Hill tend to purchase 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 conveyancers 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 Shooter's Hill or who has acted in the same development.
Am I right to be suspicious that estate agents that I am dealing with are suggesting a national conveyancing firm as opposed to a High Street Shooter's Hill conveyancing practice?
As is the case with lots of service providers, often suggestions from relatives can be extremely useful or valuable. Nevertheless there are numerous parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies might all suggest solicitors to appoint. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there might be a financial incentive behind the endorsement. You are at liberty to choose your own conveyancer. However, bear in mind that the majority of banks specify a panel list of conveyancers you must use for the mortgage related work in your conveyancing.
I am short of a 10% deposit on my flat purchase in Shooter's Hill , but I am anxious go ahead. What can I do?
You can accept a smaller deposit. Most property owners will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute