Me and my fiance are purchasing a 3 bedroom flat in Beddington with a mortgage. We wish to retain our Beddington lawyer, but the lender says he's not on their "panel". It appears that we have little option but to appoint one of the lender panel firms or keep our Beddington conveyancer and pay for one of their panel ones to act for them. We consider that this is inequitable; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Beddington conveyancing lawyer to apply to be on the conveyancing panel.
The owners have very assertive vendors who has suggested a exclusivity contract with a payment 6,000. Are such agreements promoted for Beddington conveyancing transactions?
Lock out agreements are agreements between a property owner and purchaser granting the buyer a ‘clear field’ to purchase the property for a limited period of time. Essentially, a lock out is a document stating that you will have a contract at a later date which is the contract for the actual sale. It is generally used for buyer confidence though in many situations, the proprietor may stand to benefit from such agreements as well. There are many positives and negatives to having an agreement but you should to check with your solicitor but note that it may result in costing you more in conveyancing fees. For this these agreements are unusual when it comes to conveyancing in Beddington.
Can I be sure that the Beddington conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Beddington obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your conveyancing.
Two weeks ago we had a mortgage agreed in principle with Santander. Beddington conveyancing practitioners have been instructed. What is the average time that one could expect to receive a mortgage offer from Santander?
There is no definitive answer here. Have Santander conducted the survey? Have you advised Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Co-operative have agreed my home loan in principle, my bid on a property in Beddington has been agreed to, what happens next?
The property agent will wish to know who your solicitors are (ensure that the conveyancing practitioners are on the lender’s approved list). Call up Co-operative or the broker and complete any appropriate documentation. Co-operative will appoint a valuer who will get in touch with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes approximately ten days to get a mortgage offer. Co-operative will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Beddington.
How does conveyancing in Beddington differ for new build properties?
Most buyers of new build residence in Beddington come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Beddington usually purchase 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 property lawyers 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 Beddington or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Beddington is the location of the property. Is there any guidance you can give?
Flying freeholds in Beddington are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Beddington you must be sure that your lawyer goes 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 Beddington may determine 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 husband and I are novice buyers - agreed a price, yet the selling agent told us that the vendor will only go ahead if we appoint the agent's recommended conveyancers as they want a ‘quick sale’. We would rather use a family solicitor used to conveyancing in Beddington
We suspect that the owner is unaware of this request. Should the vendor want ‘a quick sale', alienating a genuine buyer is going to damage their objectives. Try to communicate with the vendors directly and make sure they understand (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to instruct your preferred Beddington conveyancing firm - not the ones that will earn their negotiator at the agency a introducer fee or hit his conveyancing thresholds pre-set by head office.