I am purchasing residence in Downend. My Solicitor is not listed on the lender conveyancing panel. Am I still permitted to use my Downend conveyancing solicitor even though they are not on the bank approved list?
One must appoint a property lawyer to deal with the formalities if you need a loan to buy your home. They will conduct all the appropriate investigations on the property, ensuring that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is dealt with. One could instruct a Downend lawyer of your choice. Nevertheless, if the solicitor selected is not a member of the lender approved list additional fees will be incurred as separate legal representation will be need by the lender. Bank panel applications can be submitted, so if your lawyer has not previously applied for membership they should take the chance to apply.
The owners of the property we are purchasing have appointed a conveyancing solicitor in Downend who has insisted on a exclusivity agreement with a deposit of 5k. Are such agreements generally advanced for Downend conveyancing transactions?
Exclusivity agreements are contracts between a home seller and purchaser giving the buyer the sole right to purchase the property for a limited period of time. For all intents and purposes, a lock out agreement is a contract specifying that you will receive a contract at a later time which is the contract for the actual sale. It tends to be utilised for buyer assurance though in some cases, the vendor may stand to benefit from such agreements as well. There are various pros and cons to using them but you should to check with your conveyancer but beware that it may result in costing you more in conveyancing charges. For this these agreements are unusual in relation to conveyancing in Downend.
What is the difference between a licensed conveyancer and conveyancing solicitor in Downend
There are many registered licenced Conveyancers in Downend and Solicitor firms in Downend who can help with your conveyancing We would stress that both are regulated professionals specialising in the legal work in the home buying process. They may both also handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
This question may be naive but I am unexperienced as a 1st time buyer of a garden flat in Downend. Do I collect the keys to the house on the completion date from my conveyancer? If so, I will find a High Street conveyancing solicitor in Downend?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s solicitors, and once they have received this, you should be called to collect the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
Is it the case that all Downend solicitors on the Virgin Money conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be regulated by the SRA. Many mortgage companies do list licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
What will a local search tell me about the property I am buying in Downend?
Downend conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company for instance Onsearch The local search is essential in every Downend conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search should supply data on, amongst other things, details on planning applications applicable to the premises (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 topic sections.
My brother has urged me to appoint his conveyancers in Downend. Should I use them?
No doubt the best way to select a conveyancing solicitor is to seek recommendations from friends or relatives who have actually previously instructed the firm you're are thinking of instructing.