My fiance and I are looking to buy a flat in Westbourne and are in fact using a Westbourne conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. HSBC Bank have this afternoon contacted us to advise us that there is now an issue as our Westbourne solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Westbourne lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
How does conveyancing in Westbourne differ for newly converted properties?
Most buyers of new build premises in Westbourne approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Westbourne 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 used to new build conveyancing in Westbourne or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Westbourne is the location of the property. What do you suggest?
Flying freeholds in Westbourne are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Westbourne you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Westbourne may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My business partner and I are planning to take over a lease of a shop on the high street. Can you recommend solicitors offering competitive charges for commercial conveyancing in Westbourne for below £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Westbourne, including the disposal and acquisition of businesses as well as simply premises. Whether you are intending to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we can find you the right firm. As for the fees this will depend on the structure and heads of terms of the proposed transaction. Please provide us with your details or phone so as to enable us to provide you with a detailed commercial conveyancing calculation.
I need to instruct a conveyancing solicitor for freehold conveyancing in Westbourne. I've stumble upon a site which looks to be the perfect solution If it is possible to get all formalities done via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?