The housing market in Little Hampton is hotting up. What can I do to speed up matters?
Where the seller is applying pressure for your conveyancing we would recommend that your solicitor is familiar with the location as they will benefit local relationships and knowledge. It is possible that they may have handled otherhomes in the same road. You would be best advised to use a Little Hampton conveyancing firm. In addition, check that the lawyer is on the on the approved list for your mortgage company. It is estimated that nearly one in five of Little Hampton conveyancing transactions are frustrated or derailed after finding out that a purchaser’s conveyancer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the buying process being held up by as much as three weeks. It is believed that this issue affects approximately one hundred thousand home moves annually. Most Little Hampton conveyancing practices can not represent certain mortgage companies so do check at the outset.
I am considering applying for a HSBC mortgage for purchase of a newly converted (under development) in Little Hampton with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC 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 transaction.
I used Wolstenholmes several years past for my conveyancing in Little Hampton. I now require my file but the law firm has closed. 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 Little Hampton of the conveyancing firm of solicitors you previously used, 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 Little Hampton differ for new build properties?
Most buyers of new build residence in Little Hampton contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because builders in Little Hampton tend to buy the real estate, 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 Little Hampton or who has acted in the same development.
I opted to have a survey carried out on a house in Little Hampton in advance of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some banks will not give a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Little Hampton. Conveyancing may be slightly more expensive based on your lender's requirements.