Can you help? My Stockbridge conveyancer is assuring me that he has toorder Stockbridge conveyancing searches becausethe firm are on the Virgin Moneysolicitor panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a lender your conveyancing practitioner 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 lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Stockbridge conveyancing searches.
We're in Stockbridge, FTBs purchasing with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money 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.
Various internet forums that I have frequented warn that are the primary cause of delay in Stockbridge conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Stockbridge.
How does conveyancing in Stockbridge differ for new build properties?
Most buyers of new build property in Stockbridge come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because builders in Stockbridge tend to purchase the site, 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 Stockbridge or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Stockbridge is the location of the property. Can you offer any opinion?
Flying freeholds in Stockbridge are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stockbridge 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 Stockbridge 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.
Am I right to be suspicious by 3rd parties that I am dealing with are recommending a national conveyancing firm rather than a local Stockbridge conveyancing company?
As with lots of service providers, often recommendations from family and friends can be most helpful. But there are many people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and lenders may suggest solicitors to use. Sometimes these conveyancers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the recommendation. You are at liberty to select your preferred lawyer. However, bear in mind that many banks have an approved list of solicitors you must use for the mortgage aspect of your house move.