I have given 2 months notice to my current landlord and have to leave my let out apartment in Monmouth by the end of next month. Conveyancing on my purchase is underway. Is it possible to complete in six weeks as I wish to avoid having to move into temporary accommodation?
Generally one should not give notice for your tenancy until you have exchanged. If you have not previously done so, speak to your conveyancer and request that they chase the owners lawyers, try to a target completion date that all parties will aim towards
We're in Monmouth, First time buyers buying with a mortgage (lender is Principality , and our lawyer is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality 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.
Is it necessary to take out insurance to address the risk of chancel repairs when buying a property in Monmouth?
Unless a previous acquisition of the property completed post 12 October 2013 you may expect lawyers conducting conveyancing in Monmouth to continue to propose a a chancel search and or chancel repair liability policy.
Are there restrictive covenants that are commonly picked up during conveyancing in Monmouth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Monmouth. 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…’
My wife and I are buying a ground floor flat in Monmouth. When we first instructed solicitor, they told us that they were on all mainstream lender panels. Our mortgage broker contacted us just now to say that they don't appear to be on the Santander approved list. Were it to be true, what should we do? Should we simply pick a new conveyancer that is on their approved list or do we pay for separate representation, with Santander selecting their own preferred solicitor.
When purchasing a property with mortgage finance it is normal for the buyer’s solicitors to also act for the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's list of approved lawyers. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the lawyer has to satisfy. Some lenders now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your lawyer should contact Santander to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Santander's conveyancing panel as you are at liberty to use your preferred Monmouth lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another conveyancing practitioner into the mix.