My fiance and I are hoping to acquire a property in Kenley and are in fact using a Kenley conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. HSBC Bank have this morning contacted us to advise us that they have now hit a problem as our Kenley conveyancer is not on their conveyancing panel. What do we do from here?
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 bank's conveyancing panel and you may continue to use your own Kenley solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
As someone not used to the Kenley conveyancing process what is the number one tip you can impart for the legal transfer of property in Kenley
Not many law firms shout this from the rooftops but conveyancing in Kenley or throughout Surrey is an adversarial experience. In other words, when it comes to conveyancing there is plenty of room for conflict between you and other parties involved in the ownership transfer. For example, the seller, estate agent and on occasion a lender. Choosing a law firm for your conveyancing in Kenley is a critical decision as your conveyancer is your adviser, and is the ONE party in the legal process whose role it is to look after your legal interests and to keep you safe.
There is a distinct ongoing adversarial element to conveyancing- someone must be at fault for the process being so protracted. We recommend that you should always trust your conveyancer ahead of all other players in the home moving process.
What is your number one tip for finding a conveyancing solicitor in Kenley
We would encourage you not to go for the lowest Kenley conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
is it true that all Kenley solicitors on the Nottingham conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Nottingham approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel and in that case the practice would be regulated by the CLC.
We are getting a further advance on our mortgage from Yorkshire BS as we want to conduct improvements to our property in Kenley. Are we obliged to appoint a local Kenley solicitor on the Yorkshire BS conveyancing panel to deal with the legals?
Yorkshire BS would not normally require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS conveyancing panel.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when purchasing a property in Kenley?
Unless a previous purchase of the premises took place after 12 October 2013 you could expect lawyers delivering conveyancing in Kenley to remain recommending a chancel search and or insurance against a claim.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Kenley I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Kenley suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Hoping to buy a property located in Kenley and I am already nervous. I couldn't find anything specific about Kenley. Conveyancing will be needed in due course but do you know about the Kenley area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Kenley. In the meantime here are some basic statistics that we found