I do hope you can help me. My Surrey lawyer is assuring me that he is legally obliged toconduct Surrey conveyancing searches resulting from the fact thatthe firm are on the HSBCconveyancing panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a bank your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Surrey conveyancing searches.
How does conveyancing in Surrey differ for new build properties?
Most buyers of new build or newly converted property in Surrey come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Surrey tend to buy the site, 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 used to new build conveyancing in Surrey or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and identified one close by in Surrey I like with open areas and station in the vicinity, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Surrey suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan that many years may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
My husband and I are new to the buying process - had an offer accepted, yet the estate agent informed us that the vendor will only go ahead if we appoint their chosen solicitors as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Surrey
We suspect that the seller is not behind this requirement. If they desire ‘a quick sale', turning down a motivated buyer is likely to cause more damage than good. Try to communicate with the owners directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Surrey conveyancing firm - not the ones that will earn their negotiator at the agency a referral fee or meet his conveyancing thresholds demanded by head office.
We are first time buyers just having agreed a price on a property in Surrey, and are about to get solicitors instructed. I have made use of the different comparison tools and the fee estimates are from all across the the UK. Is it advisable to have a Surrey solicitor local to your potential new home? We are willing to do all the communicating over email, but I am thinking at some point we may need to visit the conveyancer's office to sign contracts?
The solicitor does not need to be in Surrey, but choosing local means that you can go in if you need to, by way of example, if a signature is immediately necessary. Furthermore, a Surrey solicitor is likely to be familiar with local agents and (if the vendor has instructed a local solicitor) with them, which will help smooth the process.