Is the fact that my solicitor in Lindfield is not on my lender's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Lindfield conveyancing firm and enquire why they are no longer on the approved list for your bank.
I am remortgaging my home in Lindfield, does my lawyer have to be on the Bank of Ireland Conveyancing panel?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
There are plenty of conveyancing solicitors in Lindfield but how do I know who I should use?
Do not opt for the cheapest Lindfield conveyancing fees. You really do get what you pay 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.
My father advised me that in buying a property in Lindfield there may be a number of restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Lindfield which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Lindfield should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My lawyer has informed me that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Lindfield?
The appropriate level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Barclays and Virgin Money. Conveyancing practitioners as opposed to members of the public take out such policies.
How does conveyancing in Lindfield differ for new build properties?
Most buyers of new build premises in Lindfield come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Lindfield typically purchase 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 accustomed to new build conveyancing in Lindfield or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in Lindfield I like with open areas and railway links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Lindfield in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan that many years will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may 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 current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I'm remortgaging my current home to a buy to let loan with HSBC Bank and I will use the rest of the raised equity as a down payment on further property. The neighborhood we are interested in is Lindfield. Will your conveyancers be able to act for the two banks and link together the conveyances?
Do use our comparison tool on this site to ensure that the conveyancers are on the appropriate lender panels. Having checked that they are your lawyer will be able to tie up the two transactions but you should have a chat with you solicitor and communicate your desired outcome and needs.