Am I correct in assuming that the fact that my conveyancer in Norbiton is not on my lender's conveyancing panel that there is a problem with the quality of the firm’s work?
That is more than likely a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Norbiton conveyancing practice and ask them why they are no longer on the approved list for your lender.
I am purchasing a new build flat in Norbiton. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Norbiton you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Norbiton.
My friend advised me that if I am purchasing in Norbiton I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Norbiton conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Norbiton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Norbiton.
How does conveyancing in Norbiton differ for newly converted properties?
Most buyers of new build property in Norbiton approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Norbiton typically buy 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 conveyancers 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 Norbiton or who has acted in the same development.
I am looking for a flat up to £195,000 and identified one close by in Norbiton I like with amenity areas and transport links nearby, however it only has 61 remaining years left on the lease. There is not much else in Norbiton for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.