We're in Wells, First timers purchasing with a mortgage (lender is Barclays , and our solicitor is on the Barclays conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Barclays conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor 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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Wells
There are many recorded licenced Conveyancers in Wells and Solicitor partnerships in Wells who can help with your conveyancing It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. The two can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
is it true that all Wells conveyancing solicitors on the Bank of Ireland conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Some mortgage companies do list licenced conveyancers on their panel and in that case the firms would be overseen by the Council of Licensed Conveyancers.
About to purchase apartment in Wells. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wells conveyancer is on the RBS conveyancing panel.
My wife and I are close to exchanging contracts on the sale of our home in Wells and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Wells lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed an internet conveyancing outfit rather than a conveyancing solicitor in Wells. Having lived in Wells for 5 years we know of no issue. Is it a good idea to get in touch with our local Authority to get confirmation need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Are there restrictive covenants that are commonly picked up during conveyancing in Wells?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Wells. 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 Wells differ for new build properties?
Most buyers of new build property in Wells come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Wells usually acquire 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 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 used to new build conveyancing in Wells or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Wells is the location of the property. What do you suggest?
Flying freeholds in Wells are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wells you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wells may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.