Can the conveyancing lawyers listed on your site perform attended exchange conveyancing in Southwark?
There are a few conveyancing specialists who can conduct one day exchanges. Do call us to get a fee calculation and details as to availability.
My apartment in Southwark is up for sale and I have a buyer. Will my conveyancing practitioner need to be required to be on the Leeds Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
I'm the single beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Southwark. The Southwark property was put into my name in October. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the property in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How sensible a view banks take of it, depend on the lender as this obligation is chiefly there to capture subsales or the flipping of properties.
We were going to get a OIP from RBS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Southwark solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Southwark solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Southwark solicitor on the Principality panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
How does conveyancing in Southwark differ for newly converted properties?
Most buyers of new build property in Southwark come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Southwark usually buy 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 accustomed to new build conveyancing in Southwark or who has acted in the same development.
My husband and I are FTB’s - had an offer accepted, yet the selling agent told us that the seller will only go ahead if we use their recommended lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a high street solicitor who is familiar with conveyancing in Southwark
We suspect that the owner is unaware of this ultimatum. Should the vendor desire ‘a quick sale', alienating a genuine buyer is counter productive. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you intend to proceed fast (e)but you intend to appoint your preferred Southwark conveyancing firm - rather thanthose that will earn the estate agent a commission or achieve conveyancing figures set by senior management.
My wife and I have appointed a Southwark conveyancing solicitor for our house purchase (first time buyers) and have spotted in the terms and conditions that they are not governed by the FCA. Need I be concerned or is that standard with solicitor?
We can't see why they should be. Most conveyancing practitioner don't lend money. They will be governed by the SRA, who dictate specific stipulations regulating amounts sitting on client account.