My husband and I are planning to purchase a house in Keynsham and have instructed a Keynsham conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Alliance & Leicester have this afternoon contacted us to advise us that there is now an issue as our Keynsham lawyer is not on their approved list of lawyers. Please explain?
Where you are buying a property with the assistance of a mortgage it is normal 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 Accreditation Scheme. Your solicitor should contact your mortgage company 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 bank's conveyancing panel and you may continue to use your own Keynsham solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
What will a local search tell me regarding the house I am purchasing in Keynsham?
Keynsham conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company such as Onsearch The local search is essential in every Keynsham conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Keynsham I like with a park and railway links nearby, the downside is that it's only got 52 years on the lease. There is not much else in Keynsham suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage that many years may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
Should I appoint a Keynsham conveyancing solicitor who is local to the property I am hoping to buy? An old friend can conduct the legal formalities however her office is over three hundred miles drive away.
The primary upside of using a local Keynsham conveyancing firm is that you can attend the office to sign documents, present your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and they were impressed that should outweigh using an unknown Keynsham conveyancing lawyer just because they are based in the area.
Whilst your website is a good idea there are many lawyers listed near Keynsham being on the mortgage company conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for our mortgage company?
We are not in the business of recommending one firm above another as the right Keynsham conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Keynsham knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..