I am not in a position to travel far from Smithfield. Is there a reason why all Smithfield conveyancers are not on all lender panels?
As unjust as it may seem for mortgage companies to limit who can represent them, from the public’s or conveyancer’s standpoint, the the contrary view is that banks are becoming ever more anxious and consider it imperative to protect them against illegal activities. As a consequence of this concern mortgage companies have reduced their panel of approved conveyancing lawyers to a size that they are happy to control.
My lawyer has uncovered a a problem with the lease for the property we are buying in Smithfield. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that he must ensure that the lender is happy with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. The appropriate lender specifications must be adhered to.
I require expedited conveyancing in Smithfield as I am under an ultimatum to complete inside one month. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?
As you are are a cash buyer you are at free not to have searches conducted although no conveyancer would advise that you don't. With plenty of history conveyancing in Smithfield the following are instances of issues that can arise and adversely affect the marketability of the property: Enforcement Actions, Outstanding Charges, Outstanding Grants, Railway Schemes,...
How does conveyancing in Smithfield differ for new build properties?
Most buyers of new build residence in Smithfield contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Smithfield typically acquire the land, 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 Smithfield or who has acted in the same development.
I'm refinancing my current home to a buy to let mortgage with Barclays and I will use the rest of the raised equity as a deposit on further property. The area we are interested in is Smithfield. Will your lawyers be able to act for both sets of lenders and link together the conveyances?
Make use of our search tool on this page to ensure that the conveyancers are on the appropriate lender panels. On the basis that they are your conveyancer will be able to connect the two deals but you should have a chat with you lawyer and communicate your expectations and requirements.
I am an executor of my recently deceased parent's Will, with a bungalow in Smithfield which will be marketed. The house has never been registered at HMLR and I'm told that many purchasers will insist that it is done before they will proceed. What's the procedure for this?
In the situation you refer to it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.