My partner and I are hoping to acquire a home in Yaxley and are in fact using a Yaxley conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Chelsea Building Society have this evening contacted us to advise us that there is now an issue as our Yaxley conveyancer is not on their conveyancing panel. Please explain?
If you are buying a property requiring 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Yaxley solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Our lender has recommended a law firm on their panel based in Yaxley but I would rather choose a conveyancing lawyer in Yaxley or nearer to where I live. Can you assist?
The minority of Yaxley conveyancing practitioners are approved and listed on all banks conveyancing panel. Use our find an approved solicitor tool to find a Yaxley conveyancing conveyancer on the on the mortgage company panel.
I am aiming to move home in May. Should my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you suggest a removal company in Yaxley. Conveyancing firm was organised prior to coming across your website.
On the day of completion you can collect the house keys from the selling agent but this should only take place once the sellers lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be released. Subsequently you will need to inform the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can assist you in locating a residential property solicitor in Yaxley or a legal practice that specialises in conveyancing in Yaxley.
I am being advised by my lawyer that lack of building regulations insurance is required on my purchase. What is the level of cover for Yaxley conveyancing?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Halifax and Virgin Money. Conveyancing practitioners as opposed to members of the public take out such policies.
After what seems like an age I have had an offer on an apartment in Yaxley agreed to, but there is a chain. The sellers have put an offer on a property, but it’s not yet tied up, and are looking at other flats booked. I have selected a high street conveyancing solicitor in Yaxley. What do I do now? When should I get the mortgage application with UBS started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then survey, Yaxley conveyancing search fees, etc). First, you must check that your solicitor is on the UBS approved list. As to the subsequent steps this very much dictated by the uniqueness of your transaction, attraction to this property and on the state of the market. During a rising market many home buyers will apply for a home loan with UBS and pay for the valuation and only if it was satisfactory would they ask their conveyancer to press on with the conveyancing in Yaxley.
Do commercial conveyancing searches disclose proposed roadworks that may impact a commercial property in Yaxley?
Many commercial conveyancing solicitors in Yaxley will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Yaxley. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Yaxley.
For each commercial conveyancing transaction in Yaxley it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Yaxley commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Yaxley.
The deeds to our property can not be found. The conveyancers who conducted the conveyancing in Yaxley 5 years ago no longer exist. Will I be able to sell the house?
As long as you have a registered title the information relating to your proprietorship will be documented by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, identify your property and get up to date copies of the property title for less than a fiver. Where the title is Leasehold then the Land Registry will also normally hold a certified duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
How does conveyancing in Yaxley differ for newly converted properties?
Most buyers of new build premises in Yaxley come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Yaxley tend to acquire the site, 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 accustomed to new build conveyancing in Yaxley or who has acted in the same development.