Please help. My Southfields lawyer is assuring me that he is legally obliged toconduct Southfields conveyancing searches becausethe firm are on the Santandersolicitor panel. Do I not have any options here?
You have limited options available to you. As you are taking a home loan with a lender your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Southfields conveyancing searches.
Should conveyancers request money up-front for my conveyancing in Southfields?
If you are buying a property in Southfields your lawyer will request that you put them with monies to cover the the cost of the conveyancing searches. Normally this is asked for to cover the fees of the Local Authority Search. When the deposit is payable against the purchase price then this will be asked for immediately before exchange of contracts. The closing balance that is needed will be payable shortly before completion.
Please explain the implications if my lawyer’s firm is suspended from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Southfields?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Have purchased a a semi-detached house in Southfields , What is the estimated time for the Land Registry to record the transfer to my name? My Southfields conveyancing solicitor has been painfully slow, so I want to check the land registry aspects are concluded.
There is nothing unique about conveyancing in Southfields registration formalities. Rather than based on location, timescales can adjust according to the party submitting the application, whether there are errors and if the Land registry must send notices to any third parties. At present approximately three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be protracted delays. Historically registration takes place once the purchaser is living at the property therefore registration formalities is not always primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Southfields differ for newly converted properties?
Most buyers of new build residence in Southfields contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Southfields typically acquire the land, 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 accustomed to new build conveyancing in Southfields or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a quick, no chain conveyancing. Southfields is the location of the property. What do you suggest?
Flying freeholds in Southfields are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Southfields you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southfields 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 premises.