Me and my fiance are purchasing a 1 bedroom flat in Billericay with a mortgage. We wish to retain our Billericay conveyancer, however the bank says she’s not on their "panel". We have to appoint one of the bank panel solicitors or keep our Billericay property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; can we not require that the bank use our Billericay lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Billericay conveyancing lawyer to apply to be on the conveyancing panel.
Can you explain why leasehold purchase conveyancing in Billericay is more expensive?
The conveyancing fees for a leasehold property in Billericay is often more expensive than on a freehold acquisition or disposal. This is due to the supplemental investigations required in liaising with the landlord and management company to collate the information concerning whether the rent and maintenance charges have been paid and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the building.
I'm the only beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in Billericay. Conveyancing formalities meant that the Land Registry date was in January. I want to move. I understand that there is a CML six month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the house in January. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. Some lenders would take a sensible view as this obligation is chiefly there to capture subsales or the quick reselling of properties.
My wife and I have organised a further advance on our mortgage from Lloyds as we intend to conduct alterations to our house in Billericay. Do we need to select a local Billericay solicitor on the Lloyds conveyancing panel to deal with the legals?
Lloyds do not ordinarily instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds list.
Co-operative have agreed my mortgage in principle, my offer on a property in Billericay has been accepted, what happens next?
Your estate agent will need to know who your solicitors are (ensure that the property lawyers are on the lender’s approved list). Call up Co-operative or the financial adviser and finalise any outstanding paperwork. Co-operative will instruct a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Co-operative will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Billericay.
Various internet forums that I have visited warn that are the number one cause of stalling in Billericay house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Billericay.
Hoping to buy a property located in Billericay and I am already nervous. I couldn't find anything specific about Billericay. Conveyancing will be needed in due course but do you know about the Billericay area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Billericay. In the meantime here are some basic statistics that we found