Do lenders provide you with an approved list of Canvey Island conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?
Canvey Island conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
Are all Canvey Island Conveyancing Quality Solicitors on the RBS conveyancing list of approved solicitors?
Some major banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I have instructed a Canvey Island property lawyer having made sure that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander 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 Canvey Island 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.
Kent Reliance have agreed my mortgage in principle, my offer on a property in Canvey Island has been agreed to, what happens next?
Your property agent will want to know who your solicitors are (ensure that the conveyancers are on the lender’s approved list). Contact Kent Reliance or the broker and complete any appropriate documentation. Kent Reliance will instruct a valuer who will get in touch with the estate agent or vendor to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Kent Reliance will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Canvey Island.
Various internet forums that I have frequented warn that are the main cause of hinderance in Canvey Island conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Canvey Island.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The lawyers who conducted the conveyancing in Canvey Island 5 years ago no longer exist. Will I be able to sell the house?
Nowadays there are copies made of almost everything, and your lawyer will be aware exactly where to locate all the suitable paperwork so you may purchase or dispose of your property without any difficulty. If copies are not available, your conveyancer can put in place insurance or indemnities against future claims on your property.
How does conveyancing in Canvey Island differ for new build properties?
Most buyers of new build or newly converted property in Canvey Island approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Canvey Island 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 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 Canvey Island or who has acted in the same development.
I am looking for a leasehold apartment up to £305k and found one close by in Canvey Island I like with amenity areas and transport links nearby, however it's only got 49 years on the lease. I can't really find anything else in Canvey Island in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can 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 term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.