Will lawyers request money on account for my conveyancing in Wincanton?
Where you are retaining lawyers for conveyancing in Wincanton your solicitor will request that you place them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the sale price then this should be required immediately before contracts are exchanged. Any further balance that is due should be transferred a few days prior to the completion date.
We're in Wincanton, FTBs purchasing with a mortgage (lender is Co-operative , and our lawyer is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
I just bought a property at auction in Wincanton. Conveyancing is required. What happens now?
Given that you are now to in every practical sense signed on the dotted line you should retain a conveyancing solicitor as a matter of urgency as you will have a fast approaching deadline in which to complete the purchase. Every auction property will have a bespoke legal pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You must pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
I am expecting a AIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Wincanton solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Wincanton solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I recently had an offer accepted on an apartment in Wincanton. My financial adviser suggested a property lawyer. I paid an advanced payment of £175. A couple of days later, the conveyancer contacted me sheepishly admitting that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Wincanton differ for new build properties?
Most buyers of new build premises in Wincanton contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because builders in Wincanton 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 conveyancing solicitors 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 Wincanton or who has acted in the same development.
I opted to have a survey done on a property in Wincanton ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some banks tend not grant a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wincanton. Conveyancing will be smoother if you use a solicitor in Wincanton especially if they regularly deal with such properties in Wincanton.
Should I use a Wincanton conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can perform the conveyancing however they are based 400miles drive away.
The benefit of a high street Wincanton conveyancing practice is that you can drop in to sign documents, hand in your ID and pester them if necessary. They will also have local intelligence which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were impressed that should surpass using an unfamiliar Wincanton conveyancing solicitor just because they are based in the area.