I am in the process of selling my ground floor flat in Hemel Hempstead and the EA has just telephoned to advise that the purchasers are appointing a new law firm. The excuse is that the lender will only deal with property lawyers on their approved list. Why would a big named mortgage company only work with specific lawyers rather the firm that they want to select for their conveyancing in Hemel Hempstead ?

Banks have always had panels of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.

Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.

Do I select a Licenced Conveyancer or Solicitor for conveyancing in Hemel Hempstead?

There are many recorded licenced Conveyancers in Hemel Hempstead and Solicitor practices in Hemel Hempstead who can assist with your conveyancing It is important to make clear that both are regulated professionals specialising in the legal work in the home buying process. The two can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

Two weeks ago we had a mortgage agreed in principle with Principality. Hemel Hempstead conveyancing solicitors were appointed. What is the average time that one could expect to receive a mortgage offer from Principality?

There is no definitive answer here. Have Principality done the valuation? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.

Principality have agreed my mortgage in principle, my offer on a property in Hemel Hempstead has been agreed to, what happens next?

The estate agent will wish to be advised as to your conveyancer's details (ensure that the conveyancers are on the lender’s approved list). Telephone Principality or your financial adviser and finish off any outstanding documentation. Principality will appoint a valuer who will get in touch with the estate agent or vendor to schedule a time for the valuation to take place. Once conducted (assuming no problems) it takes about a week to receive the mortgage offer. Principality will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Hemel Hempstead.

Do commercial conveyancing searches disclose proposed roadworks that may affect a commercial property in Hemel Hempstead?

Its becoming the norm that commercial conveyancing solicitors in Hemel Hempstead will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Hemel Hempstead. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hemel Hempstead.

For every commercial conveyancing transaction in Hemel Hempstead it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Hemel Hempstead commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Hemel Hempstead.

How does conveyancing in Hemel Hempstead differ for new build properties?

Most buyers of new build residence in Hemel Hempstead approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because builders in Hemel Hempstead tend to buy 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 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 Hemel Hempstead or who has acted in the same development.

I am using a search engine for the words conveyancing in Hemel Hempstead it reveals many property lawyersin the vicinity. With so much choice what is the best way to find the right solicitor for purchase transaction?

The best method of finding a suitable conveyancer is through a personal testimonial, so ask friends and family who have acquired a property in Hemel Hempstead or the reputable estate agent or mortgage broker. Fees for conveyancing in Hemel Hempstead differ, so it's sensible to obtain a minimum of three quotes from varying types of companies. Make sure that you clarify what costs in the quote includes.