I had a mortgage agreed in principle with Bank of Ireland. Peacehaven conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland conducted the survey? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am currently in the process of buying my council flat in Peacehaven. I have a mortgage offer with Nottingham. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Peacehaven building society branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Peacehaven conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their specific requirements. Who do I believe?
As long as the property lawyer is on the lender panel, they must follow the Council of Mortgage Lenders’ Handbook conditions for the lender. 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 remaining.
The deeds to my house are lost. The conveyancers who handled the conveyancing in Peacehaven 5 years ago have long since closed. What do I do?
You no longer need to hold title deeds to establish that you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
How does conveyancing in Peacehaven differ for new build properties?
Most buyers of new build premises in Peacehaven approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Peacehaven 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 used to new build conveyancing in Peacehaven or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Peacehaven is the location of the property. Can you offer any guidance?
Flying freeholds in Peacehaven are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Peacehaven you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Peacehaven 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.
I was advised by a couple of local property agents in Peacehaven to get a quote from a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to recommend your services over and above another?
We don’t offer any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My mortgage broker has suggested using their solicitor for my conveyancing in Peacehaven - Surely it’s advisable to just instruct them?
It is worth checking if the estate agent is recommending a solicitor or introducing to a solicitor. There are plenty of Peacehaven estate agents who recommend two or three Peacehaven conveyancing firms and get nothing from it.