Me and my fiance are acquiring a leasehold flat in Ampthill. My Conveyancer is not listed on the mortgage company conveyancing list. Am I still permitted to appoint my Ampthill conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
Various options include
- Complete the purchase with your preferred Ampthill conveyancer but your bank will undoubtedly appoint a lawyer from their conveyancing panel. The net result is additional fees together with likely interruption.
- Appoint a new solicitor to conduct the conveyancing, ensuring that they are on the bank conveyancing panel.
- Convince your solicitor to pull out all the stops to get accepted on the bank’s panel of solicitors
At what point will exchange of contracts take place for sale conveyancing in Ampthill and do I need to attend the lawyers branch?
If you are local to one of the conveyancing solicitors in Ampthill you are invited in to sign contracts. That being said, the law practices we recommend offer a countrywide conveyancing service and provide just as comprehensive and professional a job for you when dealing with you by post or email. The signing of the purchase agreement is not the point of no return. Signing on the dotted line is necessary for the firm to address the formalities at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Ampthill)to be in the office at the appropriate time.
My house in Ampthill is up for sale and I have a buyer. Will my lawyer have to be required to be on the Coventry BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
My colleague advised me that where I am purchasing in Ampthill I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Ampthill conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Ampthill around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding Ampthill.
I am just shy of a 10% deposit on my apartment purchase in Ampthill , but I am keen exchange. Do I have options?
You can accept a lesser deposit. Many property owners will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute