We're in Walworth, FTBs buying with a mortgage (lender is RBS , and our solicitor is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My colleague advised me that if I am purchasing in Walworth I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Walworth conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Walworth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Walworth.
I am buying my first flat in Walworth benefiting from help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not disclose to my conveyancer about the extras as it could adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in Walworth in advance of appointing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks tend not give a mortgage on this type of home.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to telephone us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Walworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Walworth to see if the conveyancing costs will increase in light of this.
Is it simple use the search facility to select a conveyancing lawyer in Walworth on the panel for my mortgage?
First select a bank such as National Westminster Bank, The Mortgage Works or Nottingham Building Society then choose your preferred area such as Walworth. Conveyancing organisations in Walworth and further afield should be shown.
We're first time buyers - agreed a price, yet the estate agent told us that the vendor will only proceed if we appoint the agent's chosen conveyancers as they are insisting on a ‘quick sale’. We would rather use a family solicitor who is accustomed to conveyancing in Walworth
We suspect that the owner is unaware of this ultimatum. If they desire ‘a quick sale', alienating a serious buyer is going to damage their objectives. Try to communicate with the owners directly and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to use your preferred Walworth conveyancing lawyers - not the ones that will earn the negotiator at the agency a introducer fee or hit his conveyancing figures set by corporate headquarters.