I am not in a position to travel far from Ringmer. I would like to know the understand why all Ringmer solicitors are not on all lender panels?
As inequitable as it may appear for lenders to restrict who can represent them, from the public’s or solicitor’s point of view, the other side of the coin is that mortgage companies are becoming ever more anxious and regard it vital to shield themselves from mortgage fraud. As a consequence of this concern mortgage companies are limiting their panel of approved conveyancing lawyers to a manageable size.
Have just purchased a probate house at auction in Ringmer. Conveyancing is necessary. What happens now?
Given that you are now to all intents and purposes signed on the dotted line you now have to find a conveyancing solicitor soon as you are faced with a fast approaching deadline in which to complete the property. All auction property will have a corresponding auction set of papers. This should include evidence of title and search results. In the case of leasehold property the legal papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You need to pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in order to complete the transaction on the set completion date.
Forgive me if this question is silly but I am unexperienced as a first time buyer of a two bedroom flat in Ringmer. Do I collect the keys to the premises on completion from my lawyer? If this is the case, I will find a local conveyancing solicitor in Ringmer?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be able to pick up the keys from the selling Agents and start moving into the property. Usually this happens early afternoon.
I was told two weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Ringmer is approved on their conveyancing panel? RBS have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Ringmer differ for newly converted properties?
Most buyers of new build premises in Ringmer come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Ringmer tend to acquire 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 used to new build conveyancing in Ringmer or who has acted in the same development.
I decided to have a survey carried out on a house in Ringmer ahead of instructing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies may not grant a loan on such a premises.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ringmer. Conveyancing may be slightly more expensive based on your lender's requirements.
I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Ringmer. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Ringmer ?
Most houses in Ringmer are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Ringmer in which case you should be looking for a Ringmer conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.