I am hoping to receive a mortgage with Santander. I hope to enlist the help of a Licensed Conveyancer in South Woodham Ferrers. Does the Santander Conveyancing panel allow for Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am under pressure from the mortgagee in possession of a property in South Woodham Ferrers to sign contracts within four weeks. What can be done to quicken up the buying process?
In the event that the seller is applying pressure for your conveyancing it is highly recommended that your conveyancer is familiar with the location as they will make use of local connections and knowledge. It is possible that they may have transacted previoushouses in the same neighbourhood. You would be best advised to use a South Woodham Ferrers conveyancing solicitor. In addition, check that the lawyer is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of South Woodham Ferrers conveyancing deals are frustrated or derailed after finding out that a purchaser’s conveyancer was not on their banks panel. In many cases this discovery resulted in the home move being held up by as much as 21 days. It is estimated that this issue affects in the region of 100,000 home sales every year. Many South Woodham Ferrers conveyancing practices can not represent certain mortgage companies so do check as early as possible.
I have been told by my solicitor that breach of easement insurance is required on my purchase. What is the level of cover for South Woodham Ferrers conveyancing?
The appropriate level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between HSBC Bank and Virgin Money. Conveyancing lawyers as opposed to members of the public take out such policies.
When it comes to mortgage companies such as Santander, do South Woodham Ferrers lawyers incur a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I had an offer accepted on a property in South Woodham Ferrers on 1/12/2020, valuation was booked five days after, received a clean bill of health. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Clydesdale and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Clydesdale conveyancing panel. Can the lender hold off the offer?
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 Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in South Woodham Ferrers differ for new build properties?
Most buyers of new build residence in South Woodham Ferrers contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because developers in South Woodham Ferrers 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 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 used to new build conveyancing in South Woodham Ferrers or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. South Woodham Ferrers is the location of the property. What do you suggest?
Flying freeholds in South Woodham Ferrers are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Woodham Ferrers you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Woodham Ferrers may decide 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 premises.
I have been recommended by two or three local property agents in South Woodham Ferrers to find a solicitor using your seach tool. What’s the financial upside for Estate Agents to market your services over a competitor’s?
We refuse to offer any commission for directing people our way. We found it would be just too difficult a fee because home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.