We're in Queensferry, First time buyers purchasing with a mortgage (lender is HSBC , and our lawyer is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer 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.
This question may be naive but I am unexperienced as FTB of a two bedroom flat in Queensferry. Do I collect the keys to the house on completion from my lawyer? If so, I will find a High Street conveyancing solicitor in Queensferry?
On the day of completion you do not need to attend the conveyancers office in Queensferry. Conveyancing lawyers for you will arrange to send the purchase money to the owner’s solicitors, and once they have received this, you should be invited to receive the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
My lawyer has informed me that defective lease insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Queensferry?
The right level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Birmingham Midshires and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
is it true that all Queensferry solicitor firms on the Barclays conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Barclays approved list of solicitors they would need to be overseen by the SRA. Many lenders do list licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
I am intent on selling our property in Queensferry and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A local lawyer would know that there is no such problem. It does beg the question why the buyers instructed an internet conveyancing outfit as opposed to a conveyancing solicitor in Queensferry. We have lived in Queensferry for six years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Are there restrictive covenants that are commonly picked up as part of conveyancing in Queensferry?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Queensferry. 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…’
How does conveyancing in Queensferry differ for new build properties?
Most buyers of new build property in Queensferry contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Queensferry tend to 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 Queensferry or who has acted in the same development.
I’m about to sell my 2 bed flat in Queensferry.Conveyancing solicitors are to be appointed soon however I have recently had a half-yearly service charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay the invoice as you normally would given that all rents and maintenance invoices should be allottedas part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process