The property market in Highworth is heating up. What can be done to hasten the conveyancing process?
In a situation where the seller is applying a tight deadline to sign contracts it is highly recommended that your conveyancer is familiar with the area as they will benefit local contacts and know-how. It is even conceivable that they could have transacted otherproperties in the same street. Therefore consider using a Highworth conveyancing lawyer. In addition, ensure that the lawyer is on the member panel. It is said that 18% of Highworth conveyancing transactions are delayed or derailed after discovering a buyer’s conveyancer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the legal transfer of property being delayed by as much as three weeks. It is understood that this issue affects in the region of 100,000 home sales every year. Many Highworth conveyancing firms can not represent certain banks so do check at the outset.
I understand that there are debates on Chancel Insurance on online forums. Do I need this when purchasing a residence in Highworth? or I am told that there is a law dating back centuries that means some owners of property residing in a parish church boundary will be compelled to contribute towards maintenance towards the chancel in proximity to the church. Is this applicable for conveyancing in Highworth?
Unless a prior purchase of the property completed after 12 October 2013 you could take it that solicitors carrying out conveyancing in Highworth to remain recommending a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified as part of conveyancing in Highworth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Highworth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Highworth differ for new build properties?
Most buyers of new build premises in Highworth contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Highworth usually buy 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 Highworth or who has acted in the same development.
We had our mortgage approved yesterday with our bank. We instructed a reputable conveyancer in Highworth two days ago. Today, our broker phoned to advise us that the bank said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we did not have a clue that the mortgage company had some control over our choice Is this allowed?
You are at liberty to appoint any conveyancing solicitor you want to appoint including the said conveyancer in Highworth nevertheless if they are not on the your lender's approved list you will have to fork out an extra fee so the bank can appoint their own conveyancer too. On occasion it is conceivable that your solicitor may apply to get included on to the lender list of approved firms. Do make the most of web-based tools such as lenderpanel.com to find a conveyancing solcitor in Highworth on the lender panel. You can go into your local bank branch in Highworth. They will know some good conveyancing solicitors in Highworth on the panel for your lender.