We're in Minehead, First timers purchasing with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Is it correct that all Minehead CQS (Conveyancing Quality Scheme) solicitors are on the Aldermore conveyancing panel?
Some major lenders now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
It is not clear whether my bank requires a lease extension. I have called my Minehead building society branch on numerous occasions and was told it wasn't an issue and they will lend. My Minehead conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend in accordance with their specific requirements. Who do I believe?
The solicitor must follow the CML Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I was told four weeks ago that my mortgage has been agreed to by HSBC. Is it usual for HSBC to only issue the offer once my solicitor in Minehead is approved on their conveyancing panel? HSBC have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will my solicitor be raising questions about flooding during the conveyancing in Minehead.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Minehead. Some people will acquire a property in Minehead, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a various searches that may be initiated by the purchaser or by their lawyers which will figure out the risks in Minehead. The conventional set of information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the owner to determine whether the premises has ever been flooded. In the event that the premises has been flooded in past and is not revealed by the vendor, then a buyer may bring a compensation claim as a result of such an misleading answer. A purchaser’s conveyancers will also order an enviro report. This should disclose if there is a recorded flood risk. If so, more detailed inquiries will need to be made.
Are there restrictive covenants that are commonly identified as part of conveyancing in Minehead?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Minehead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey done on a house in Minehead in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some lenders will refuse to grant a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Minehead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Minehead to see if the conveyancing costs will increase in light of this.
I need to retain a conveyancing solicitor for leasehold conveyancing in Minehead. I happened to land on a site which looks to be the ideal offering If there is a chance to get all the legals completed via email that would be preferable. Should I be concerned? 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?