Unfortunately I am unable to travel far from Redhill. Can you please clarify why all Redhill property lawyers are not on all mortgage company panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in mortgage companies pruning less reputable firms off their books of approved lawyers .
Completed the sale of my flat in Redhill last September but the buyer keeps telephoning me complaining that their solicitor needs to hear from myconveyancer. What are the post completion sale legalities following completion?
Post completion of your sale your conveyancer should deliver the transfer documentation and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your solicitor should also confirm that the legal charge in favour of the lender has been paid off to the buyers lawyers. There are no post completion procedures specific conveyancing in Redhill.
I am refinancing my house in Redhill, does my lawyer need to be on the Santander Conveyancing panel?
In theory, you could use a solicitor that is not on the Santander conveyancing panel, but Santander 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 conveyancing matter.
How does conveyancing in Redhill differ for newly converted properties?
Most buyers of new build premises in Redhill approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Redhill typically acquire 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 conveyancing solicitors 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 Redhill or who has acted in the same development.
I am looking for a flat up to £305k and identified one near me in Redhill I like with open areas and transport links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Redhill for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Should I appoint a Redhill conveyancing practitioner who is local to the property I am buying? An old friend can deal with the legal formalities but her office is 200kilometers drive away.
The benefit of a high street Redhill conveyancing practice is that you can attend the office to execute documents, hand in your identification documents and pester them where appropriate. Having local Redhill know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were happy that must trump using an unknown Redhill conveyancing solicitor solely due to them being local.