What happens if my lawyer’s firm is suspended from the Coventry BS Solicitor panel ahead of completing my conveyancing in Corby?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My partner and I have arranged a further advance on our home loan from Leeds Building Society as we want to carry out renovations to our house in Corby. Are we obliged to appoint a nearby Corby solicitor on the Leeds Building Society conveyancing panel to handle the paperwork?
Leeds Building Society don't usually instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society panel.
I'm at the point of looking at houses in Corby and I am now considering a potential offer. Is it sensible to have my property lawyer on ‘stand by’? I am planning to take a mortgage with Virgin Money.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are seeking a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
Leeds Building Society have agreed my home loan in principle, my offer on a property in Corby has been accepted, now what?
The property agent will want to know who your solicitors are (make sure the property lawyers are on the bank’s panel). Contact Leeds Building Society or the broker and complete any appropriate forms. Leeds Building Society will sellect a valuer who will get in contact with the selling agent or owners to schedule a slot for the valuation to happen. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Leeds Building Society will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Corby.
Are there restrictive covenants that are commonly picked up during conveyancing in Corby?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Corby. 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…’
How does conveyancing in Corby differ for newly converted properties?
Most buyers of new build residence in Corby contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Corby typically buy the real estate, 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 property lawyers 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 Corby or who has acted in the same development.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Corby. I've chance upon a site which seems to have the ideal solution If there is a chance to get all this stuff done via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?