My partner and I are planning to acquire a house in Moorends and are in fact using a Moorends conveyancing firm. 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. Santander have this afternoon contacted us to inform me that they have now hit a problem as our Moorends solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers 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 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 Moorends 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 have a mortgage agreed in principle with Kent Reliance. Moorends conveyancing lawyers have been instructed. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
Some lenders take longer than others. Have Kent Reliance conducted the survey? Have you informed Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Moorends solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Moorends surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My offer on a semi in Moorends has been accepted, but there is a chain. The owners have placed an offer on a property, but it’s not yet agreed to, and have viewings of other properties booked. I have instructed a nearby conveyancing solicitor in Moorends. What should be my next step? When should I get the mortgage application with Kent Reliance started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Moorends conveyancing search charges, etc). First, you should ensure that your property lawyer is on the Kent Reliance approved list. Concerning the subsequent stages this very much depends on the specifics of your transaction, attraction to the property and on the state of the market. In a buoyant market the majority of purchasers would apply for the mortgage with Kent Reliance and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to press on with searches.
Will my lawyer be asking questions concerning flooding as part of the conveyancing in Moorends.
Flooding is a growing risk for solicitors dealing with homes in Moorends. There are those who purchase a property in Moorends, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a various searches that may be undertaken by the purchaser or by their conveyancers which should give them a better appreciation of the risks in Moorends. The conventional set of information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the seller to determine if the premises has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the seller, then a buyer may commence a claim for damages as a result of such an incorrect reply. A purchaser’s conveyancers will also carry out an environmental report. This should indicate whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
Are there restrictive covenants that are commonly identified during conveyancing in Moorends?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Moorends. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am downsizing from my house. My past lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Moorends if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Moorends. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.