I have just been advised by my lender that my Stone property lawyer is not on the bank Conveyancing panel. What can I do to be certain whether this is indeed the case?
The first thing you need to do is to contact your Stone conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may recommend you to a Stone conveyancing firm that is on the conveyancing panel for your mortgage company.
At what point will exchange of contracts occur in sale conveyancing in Stone and am I required to be at the conveyancers branch?
Where you are near to our conveyancing solicitors in Stone you are invited in to sign contracts. That being said, the firms we work with offer a nationwide conveyancing service and provide just as detailed and professional a job for you when dealing with you electronically. The executing of the property agreement is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Stone)to be in the office available at the end of the phone to exchange contracts.
I am considering applying for a Santander mortgage for purchase of a newly converted (under development) in Stone with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
In theory, you could use a solicitor that is not on the Santander conveyancing panel, but Santander would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
How does conveyancing in Stone differ for newly converted properties?
Most buyers of new build premises in Stone contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Stone usually 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 property lawyers 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 Stone or who has acted in the same development.
I am looking for a flat up to £305k and identified one close by in Stone I like with open areas and station nearby, however it only has 49 years on the lease. There is not much else in Stone in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I am Googling for Stone conveyancing quotes online. Can I be confident that all the Stone practices that are listed on your directory are on the mortgage company conveyancing panel?
The law firms listed on our site have advised us that they are on the bank panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Stone firm being on the bank conveyancing panel is incorrect.