I am buying a ground floor flat in Hampton. My lawyer is not listed on the bank conveyancing panel. Can I still continue with my Hampton conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
One must appoint a conveyancer to complete the legal work required if you require a mortgage to buy your property. They will conduct all the essential investigations on the property, make sure that you will be registered as proprietor and ensure that all the necessary mortgage documentation is in order. One may select a Hampton lawyer of your choice. However, if the conveyancing practitioner selected is not a member of the bank approved list supplemental costs will be incurred as separate legal representation will be need by the lender. Conveyancing panel applications may be submitted, so where your conveyancer has not previously applied for membership they should do so.
I am considering refinancing my property in Hampton, does my lawyer have to be on the Bank of Ireland Solicitor panel?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
How does conveyancing in Hampton differ for new build properties?
Most buyers of new build or newly converted property in Hampton come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Hampton usually acquire the site, 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 conveyancers 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 Hampton or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and found one round the corner in Hampton I like with a park and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Hampton in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I'm selling a bungalow in Hampton. I have found my conveyancer's company on the CLC list, but I can't see my lawyer's name on the list. Is this a big problem?
Not all staff in the law firm must be listed by the regulator. Provided there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unqualified staff.