We're in Mere, First timers purchasing with a mortgage (lender is Bank of Ireland , and our solicitor is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told by my solicitor that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Mere?
The right level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between Accord Mortgages Ltd and Leeds Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
When it comes to mortgage companies such as Kent Reliance, do Mere conveyancing practitioners face a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have a mortgage with HSBC for my property in Mere. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
Your original mortgage agreement with HSBC will provide that you need their approval before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel firm.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Mere is where the house is located. Can you shed any light on this issue?
Flying freeholds in Mere are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mere you must be sure that your lawyer goes 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 Mere may decide 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 property.
What does commercial conveyancing in Mere cover?
Mere conveyancing for business premises covers a wide array of advice, provided by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I am are seeking to find a dependable conveyancing solicitor in Mere to assist me in selling my home. I I am fearful of by bill escalating out of control but with lots of Mere conveyancing solicitors to choose from...who do I opt for?
A trustworthy personal recommendation from someone who has instructed a conveyancing solicitor before is always a best. Almost everyone has used a conveyancing lawyer in the past. Feel free to use our comparison tool for Mere conveyancing quotes