We're in Old St Mellons, First time buyers purchasing with a mortgage (lender is Kent Reliance , and our solicitor is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer 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 happen to be the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Old St Mellons. Conveyancing formalities meant that the Land Registry date was in April. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership will be regarded the same way as if I'd bought the house in April. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Most banks would take a practical view as this provision primarily exists to identify subsales or the flipping of property.
is it true that all Old St Mellons conveyancing solicitors on the Virgin Money conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in that case the organisation would be overseen by the Council of Licensed Conveyancers.
Completion of my purchase has taken place for my property in Old St Mellons. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I need some expedited conveyancing in Old St Mellons as I am under a deadline to sign on the dotted line within 4 weeks. Fortunately I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are not getting a home loan you have the choice not to do searches although no conveyancer would advise that you don't. With plenty of history conveyancing in Old St Mellons the following are instances of what can crop up and adversely affect future mortgageability: Enforcement Actions, Overdue Charges, Outstanding Grants, Railway Schemes,...
How does conveyancing in Old St Mellons differ for new build properties?
Most buyers of new build or newly converted property in Old St Mellons contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because developers in Old St Mellons typically buy the real estate, 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 Old St Mellons or who has acted in the same development.
My uncle has recommend that I appoint his conveyancing solicitors in Old St Mellons. Do I follow his recommendation?
Much as we are happy to recommend a Old St Mellons conveyancing lawyer the ideal way to find a conveyancing solicitor is to get referrals from friends or family who have experience in using the conveyancer you're contemplating using.