When will exchange of contracts occur in domestic conveyancing in Maidenbower and do I need to attend the conveyancers office?
If you are near to our conveyancing solicitors in Maidenbower you are welcome to come in to sign contracts. That being said, the firms we recommend supply countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when communicating with you by post or email. The signing of the contract is not when everything is set in stone. A signed contract simply enables the solicitor to exchange contracts at the suitable time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Maidenbower)to be in the office available at the end of the phone to exchange contracts.
I had intended to instruct a conveyancing solicitor in Maidenbower for our house purchase. Our broker has since advised us that our bank Aldermore won't deal with them. Surely this is unduly restrictive?
A decade ago most mortgage companies had an appetite for risk which was higher than today. Almost all Maidenbower conveyancing firms would have been on most mortgage company panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms regarding their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of conveyancing. Many Maidenbower conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Maidenbower is amongst the hundreds of locations where the lawyers we list are are approved Aldermore.
I have been told that property searches are a common reason for delay in Maidenbower conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Maidenbower.
Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Maidenbower I like with amenity areas and railway links nearby, however it only has 49 years on the lease. There is not much else in Maidenbower suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Me and my partner have just had an offer accepted on a house and had an appointment on Monday with the Post Office for the mortgage. They have informed us that when it comes to appointing a conveyancer that unless they are on their approved panel of conveyancers then we will incur an extra fee of £200. This is because they will then have to select a conveyancer to act on their behalf in addition to the one we select for ourselves and we will be on the hook for their invoice. I have requested the Post Office to send me with a list so I can seek quotes only from their approved lawyers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
Ask the Post Office what their criteria for joining their panel is for a solicitor.Then ask the conveyancing practitioner of your choice whether they fit that criteria and have they acted on loans for the Post Office before. Where the answer to those is yes, then just double check with the Post Office. Alternatively please utilise our search tool and we should be able to identify a lawyer in Maidenbower on the approved list for the Post Office.