I am selling my flat in Four Oaks. Will my conveyancing practitioner need to be on the Virgin Money conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money 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 requirements fairly frequently at the moment.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Four Oaks?
There are two types of lawyers who can carry out conveyancing in Four Oaks namely licenced conveyancers or solicitors. The two can handle the legal services that required to complete the sale or purchase of property. Both are required to carry out Four Oaks conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be professionally administered and that the requirements and steps will be suitably attended to.
is it true that all Four Oaks conveyancing solicitors on the Virgin Money conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel and in that case the practice would be regulated by the CLC.
Lloyds have agreed my mortgage in principle, my bid on a apartment in Four Oaks has been accepted, what happens next?
The property agent will need to know who your solicitors are (ensure that the conveyancers are on the bank’s panel). Call up Lloyds or your broker and finish off any outstanding paperwork. Lloyds will instruct a valuer who will get in contact with the estate agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Lloyds will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Four Oaks.
I used Action Conveyancing a few years ago for my conveyancing in Four Oaks. I now require my papers but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Four Oaks of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Four Oaks differ for new build properties?
Most buyers of new build property in Four Oaks come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Four Oaks usually acquire the land, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Four Oaks or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and identified one near me in Four Oaks I like with amenity areas and railway links in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Four Oaks suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.