We're in Romney, First time buyers buying with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor 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.
Do commercial conveyancing searches reveal impending roadworks that may affect a commercial land in Romney?
Many commercial conveyancing solicitors in Romney will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Romney. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Romney.
For every commercial conveyancing transaction in Romney it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Romney commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Romney.
How does conveyancing in Romney differ for new build properties?
Most buyers of new build residence in Romney come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Romney tend to 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 conveyancing solicitors 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 Romney or who has acted in the same development.
In scouring the internet for the words on line conveyancing in Romney it reveals numerous conveyancersin the vicinity. How do I determine which is the right conveyancing solicitor for purchase transaction?
The best method of finding the right conveyancer is through a personal testimonial, so seek the guidance of colleagues and relatives who have bought a property in Romney or the reputable estate agent or financial adviser. Charges for conveyancing in Romney vary, so it's advisable to obtain at least three fee calculations from varying types of law firms. Be sure to seek confirmation that the fees are fixed.
We have had DIP from The Mortgage Works who suggested that they will lend up to £300k. When do I need to appoint a lawyer for conveyancing? Romney is where we plan to move to.
It would be wise to instruct a lawyer now so that the conveyancer can open the ledger so they can conduct the AML checks etc. As and when you wish them to start work you will be asked for a payment on account normally about £200. That should normally be once you have the mortgage offer and survey results, but if you want to expedite the process you can start quicker even though you may be risking some money.