We're in Eastney and Southsea, FTBs buying with a mortgage (lender is UBS , and our solicitor is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS 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.
How can we know in advance if a Eastney and Southsea conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Eastney and Southsea getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your transaction.
I have decided to exercise my right to buy my property in Eastney and Southsea off the council. I have a mortgage agreed with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
I currently have a mortgage with Coventry BS for my property in Eastney and Southsea. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
Coventry BS must be informed of your intention before renting your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel firm.
Will my lawyer be raising questions concerning flooding as part of the conveyancing in Eastney and Southsea.
Flooding is a growing risk for solicitors dealing with homes in Eastney and Southsea. Some people will purchase a property in Eastney and Southsea, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, however there are a numerous checks that can be carried out by the purchaser or by their conveyancers which will figure out the risks in Eastney and Southsea. The standard property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to discover if the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the seller, then a purchaser could bring a compensation claim stemming from an misleading answer. The buyer’s lawyers should also order an environmental search. This should disclose whether there is a recorded flood risk. If so, more detailed investigations will need to be made.
How does conveyancing in Eastney and Southsea differ for new build properties?
Most buyers of new build or newly converted property in Eastney and Southsea contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because developers in Eastney and Southsea usually buy 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 used to new build conveyancing in Eastney and Southsea or who has acted in the same development.
My cousin has encouraged me to use his conveyancers in Eastney and Southsea. Should I use them?
Much as we are happy to recommend a Eastney and Southsea conveyancing lawyer it’s preferable to select a conveyancing lawyer is to get recommendations from friends or relatives who have used the firm you're contemplating using.