My husband and I are planning to buy a flat in West Wittering and have instructed a West Wittering conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Britannia have this morning contacted us to advise us that there is now an issue as our West Wittering solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own West Wittering solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We are a couple about to sign contracts for a freehold house in West Wittering. We encountered a stumbling block. Our loan offer with The Mortgage Works runs out on 7/8/2025 but the vendors are suggesting a completion date of 11/8/2025. Is it possible to prolong the loan offer?
The best person to address this question is your lawyer who should calculate whether they should be discussing with the lender, vendor’s lawyers, property agents or indeed all parties based on what has happend in your conveyancing to date.
I have been told by my conveyancer that flying freehold insurance is required on my purchase. What is the typical level of cover needed for conveyancing in West Wittering?
The right level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Virgin Money. Conveyancing practitioners as opposed to members of the public take out such policies.
Planning on purchasing a house in West Wittering. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS 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 West Wittering lawyer is on the Coventry BS conveyancing panel.
Lloyds have agreed my home loan in principle, my bid on a apartment in West Wittering has been agreed to, what are the next steps?
Your estate agent will want to be informed of your solicitor's details (make sure the lawyers are on the lender’s panel). Telephone Lloyds or the broker and finish off any appropriate forms. Lloyds will appoint a valuer who will get in contact with the selling agent or owners to schedule a slot for the valuation to take place. Once conducted (assuming no problems) it takes about ten days to receive the mortgage offer. Lloyds will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in West Wittering.
I need some quick conveyancing in West Wittering as I have a deadline to exchange contracts inside 4 weeks. A home loan is not required. Can I decline from having conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at free not to have searches carried out although no law firm would recommend that you don't. With lots of history conveyancing in West Wittering the following are examples of issues that can crop up and therefore impact the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Railway Schemes,...
How does conveyancing in West Wittering differ for new build properties?
Most buyers of new build or newly converted property in West Wittering contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in West Wittering tend to purchase 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 West Wittering or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and identified one near me in West Wittering I like with a park and railway links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in West Wittering for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.