When can the exchange of contracts occur in sale conveyancing in Totland and am I required to be at the conveyancers branch?
If you are local to our conveyancing solicitors in Totland you are welcome to attend to sign the paperwork. That being said, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and provide just as detailed and professional a job for you when dealing with you electronically. The executing of the contract is not the important part. Signing on the dotted line is just a prerequisite for the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Totland)to be in the office at the appropriate time.
I had intended to instruct a conveyancing solicitor in Totland for our house move. Our financial adviser has since advised us that our mortgage company Chelsea Building Society won't deal with them. Why is this not regarded as unfair competition?
Before the recession most lenders had a different appetite for risk. Almost all Totland conveyancing firms would have been on many bank panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many Totland conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Totland is amongst the hundreds of locations where the solicitors we list are are authorised to act for Chelsea Building Society.
We are planning to move property in June. Does my conveyancing solicitor liaise with the removal company on the day of completion. Incidentally, can you put forward a removal company in Totland. Conveyancing solicitor was found before I stumbled across your website.
On the afternoon of completion you can pick up the house keys from the property agent however this should only happen when the vendors conveyancers confirm to the agent that the monies to complete are in and the keys can be collected. You should advise the removal company that they can start moving you in. We are not in a position to recommend a particular removal organisation but can help you locate a residential property solicitor in Totland or a legal practice with expertise in conveyancing in Totland.
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my Totland building society branch on a couple of occasions and was reassured it wasn't an issue and they will lend. My Totland conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend based on their specific requirements. Who do I believe?
As long as the conveyancing practitioner is on the bank panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Totland solicitor - who is on the Co-operative conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Totland surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Due to the input of my in-laws I had a survey completed on a house in Totland ahead of retaining solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Totland. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Totland to see if the conveyancing costs will increase in light of this.
I bought a flat in Totland last 9/2/2018 and to date it is still not registered with HM Land Registry. It was part of a development site and my solicitor told me that it may take one year to register. I have contacted the Land Registry directly and they say that the initial application was cancelled due to questions not being addressed in time. Do I need to be concerned?
It is your lawyer that you must turn to here in order to satisfy any issues which have arisen as part of the registration formalities for your Totland property. Normal Totland conveyancing practice includes an undertaking on the part of the vendor’s conveyancing practitioner that they will help resolve any requisition raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.