Me and my fiance are purchasing a ground floor flat in Little Haven. My property lawyer is not on the lender approved panel. Am I still permitted to appoint my Little Haven conveyancing solicitor notwithstanding that they are not on the lender approved list?
One will need to appoint a solicitor to complete the legal work required if you take out a loan to purchase your property. They will carry out all the necessary due diligence on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. One can instruct a Little Haven conveyancer of your choice. However, if the conveyancer selected is not on the lender approved list further charges will arise as separate legal representation will be need by the mortgage company. Bank panel applications may be submitted, so provided your solicitor has not in the past sought membership they can do so.
What does my ID and proof of funds have anything to do with my conveyancing in Little Haven? Is this really necessary?
It is indeed that case that these requests have nothing to do with conveyancing in Little Haven. However these days you will not be able to proceed with any conveyancing process in the absence providing proof of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Please note that if you are providing your driving licence as evidence of ID it needs to be both the paper section as well as the photo card part, one is not satisfactory without the other.
Evidence of your source of monies is necessary under Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer must have this information on record. Your Little Haven conveyancing lawyer will require evidence of proof of funds before they are able to accept any monies from you into their client account and they may also ask further questions concerning the source of monies.
How does conveyancing in Little Haven differ for newly converted properties?
Most buyers of new build premises in Little Haven come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because developers in Little Haven usually acquire 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 property lawyers 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 Little Haven or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Little Haven is the location of the property. Can you shed any light on this issue?
Flying freeholds in Little Haven are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Little Haven you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Little Haven may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We are considering using a web based property lawyer ahead of a Little Haven conveyancing firm. Any advice?
Advantages do exist in being able to visit a local Little Haven conveyancing solicitor such as
- signing documents same day
- often being able to speak to someone face-to-face can make a significant difference, particularly for more complex conveyancing
- the ability to complain if matters are not going as expected
When checking quotes, look out for hidden extras. The majority decent Little Haven high street solicitors give an all-inclusive price. Often online companies appear to offer cheap fees, but have burried 'extras' in the small print.