My wife and I are looking to buy a flat in Hebden Bridge and have instructed a Hebden Bridge conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. HSBC Bank have this afternoon contacted us to inform me that they have now hit a problem as our Hebden Bridge conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Hebden Bridge lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
This question may be naive but I am unseasoned as a first time buyer of a garden flat in Hebden Bridge. Do I receive the keys to the premises on completion from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in Hebden Bridge?
On the day of completion you do not need to go to the conveyancers office in Hebden Bridge. Your solicitors will arrange to send the completion advance to the owner’s lawyers, and once they have received this, you will be invited to pick up the keys from the property Agents and start moving into the property. Usually this happens between 1 and 3pm.
When it comes to mortgage companies such as Kent Reliance, do Hebden Bridge conveyancing practitioners have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Hebden Bridge solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Hebden Bridge surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Hebden Bridge I like with open areas and railway links nearby, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Hebden Bridge suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I am looking to sell my property. My former solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Hebden Bridge if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Hebden Bridge. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
I need to find a conveyancing solicitor for sale conveyancing in Hebden Bridge. I've land on a web site which appears to be the perfect solution If it is possible to get all this stuff completed via email that would be preferable. Do I need to be wary? What should out be looking out for?
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?