We're in Sanderstead, FTBs purchasing with a mortgage (lender is Nationwide , and our solicitor is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide 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.
What is your number one tip for choosing a conveyancing solicitor in Sanderstead
We would encourage you not to go for the lowest Sanderstead conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. 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 know exactly what you’ll have to pay in ahead of time.
When it comes to lenders such as Santander, do Sanderstead solicitors incur a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
is it true that all Sanderstead solicitor firms on the Coventry BS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Coventry BS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
Will my conveyancer be raising enquiries about flooding during the conveyancing in Sanderstead.
Flooding is a growing risk for lawyers carrying out conveyancing in Sanderstead. There are those who purchase a house in Sanderstead, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or by their solicitors which can give them a better appreciation of the risks in Sanderstead. The conventional set of property information forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to determine whether the premises has historically flooded. If flooding has previously occurred and is not notified by the vendor, then a buyer may commence a legal claim for losses resulting from an incorrect response. A buyer’s lawyers should also carry out an enviro search. This will reveal whether there is a recorded flood risk. If so, additional inquiries will need to be made.
I am buying my first flat in Sanderstead with a loan from Aldermore. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not inform my solicitor about the extras as it could affect my mortgage with Aldermore. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been recommended by two or three local property agents in Sanderstead to locate a solicitor using your seach tool. Is there a financial incentive for Estate Agents to recommend your lawyers ahead of another?
We don’t make any referral fee for directing people our way. We found it would be just too difficult to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Our financial adviser has recommended their conveyancer for the conveyancing in Sanderstead - Is it not simpler better to just instruct them?
You need to establish if the estate agent is recommending a lawyer or introducing to a conveyancing practitioner. There are plenty of Sanderstead estate agents who recommend two or three Sanderstead conveyancing firms purely based on those lawyers offering a great service.