When can the exchange of contracts occur in residential conveyancing in Newbury and am I required to attend the solicitors office?
Where you are round the corner to our conveyancing solicitors in Newbury you are welcome to attend to sign the paperwork. That being said, the firms we recommend provide countrywide coverage for conveyancing and give just as diligent and professional a job for you when communicating with you by post or email. The signing of the contract is not the important part. Signing on the dotted line is necessary for the firm to exchange contracts at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Newbury)to be in the office at the appropriate time.
A colleague informed me that in purchasing a property in Newbury there could be various restrictions limiting what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Newbury which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Newbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My offer was accepted on an apartment in Newbury on 2/12/2020, valuation was booked 4 days after, received a clean bill of health. Solicitor instructed, so all that was missing was my mortgage offer. Having made daily calls to Yorkshire BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Yorkshire BS conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
After shopping around on the internet I have found a Newbury solicitor having checked that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Newbury surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I decided to have a survey completed on a house in Newbury prior to appointing solicitors. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some banks will not issue a mortgage on this type of home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Newbury. Conveyancing will be smoother if you use a solicitor in Newbury especially if they are familiar with such properties in Newbury.
How do I locate a Newbury law firm on the Norwich and Peterborough Building Society conveyancing panel? I am a keen cyclist and am willing to travel upto 10miles to meet the conveyancer.
Feel free to make use of the facility on this website. Please choose the mortgage company and your location and you will see a number of Newbury conveyancing lawyers based on proximity. We have detailed some Newbury conveyancing firms towards the end of this page and you can ring them to see if they are on the Norwich and Peterborough Building Society member panel
Why is it not possible to complete my conveyancing in Newbury on Good Friday?
Because on completion the purchase price will be transferred electronically between the banks of the purchaser and seller's conveyancer and currently this can only take place on a working day. It is not possible to complete on a saturday or sunday either.