My wife and I are soon to complete on the purchase of a house in Thamesmead but as a result of damage from some water damage at the property I have managed to agree compensation from the current proprietors in the sum of £2k by way of a deduction in the price. This was going to be addressed as part of the conveyancing process however HSBC are not allowing this. Why were they informed?
The conveyancer that is on a HSBC conveyancing panel is duty bound to disclose to HSBC of any variations to the purchase price. If you prohibit your property lawyer to report the reduction to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new solicitor for your conveyancing in Thamesmead.
As someone with no idea as to the Thamesmead conveyancing process what is your top tip you can impart concerning the house moving process in Thamesmead
Not many law firms or advisers will tell you this but conveyancing in Thamesmead or throughout South East London is an adversarial experience. In other words, when it comes to conveyancing there exists plenty of opportunity for confrontation between you and other parties involved in the ownership transfer. For example, the seller, property agent and even potentially a bank. Appointing a law firm for your conveyancing in Thamesmead is a critical decision as your conveyancer is your adviser, and is the ONLY party in the process whose role it is to act in your best interests and to keep you safe.
Every so often a potential adversary will attempt to convince you that it is in your interests to do things their way. For instance, the estate agent may claim to be helping by suggesting your lawyer is wrong. Or your financial adviser may tell you to do take action that is against your solicitors guidance. You should always trust your lawyer above all other parties in the home moving process.
We're in Thamesmead, First timers buying with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no 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.
How does conveyancing in Thamesmead differ for newly converted properties?
Most buyers of new build premises in Thamesmead approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Thamesmead tend to 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 accustomed to new build conveyancing in Thamesmead or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and found one near me in Thamesmead I like with open areas and station in the vicinity, however it only has 52 remaining years left on the lease. There is not much else in Thamesmead suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan that many years may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
We had our home loan agreed in principle on Tuesday with our lender. We have retained a reputable conveyancer in Thamesmead last week. Today, our broker phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As FTB's, we had no idea that the mortgage company had a say Is this allowed?
You can actually choose any conveyancing solicitor you prefer to choose for your conveyancing in Thamesmead nevertheless if they are not on the your bank's approved list you would have to incur an extra fee so the mortgage company can retain their own conveyancer too. On occasion it is possible your preferred conveyancing firm to get added to the mortgage company list of approved firms. Do make the most of web-based tools including lenderpanel.com to find a conveyancing solcitor in Thamesmead on the mortgage company panel. You can go into your local mortgage company branch in Thamesmead. They will know some good conveyancing solicitors in Thamesmead on the panel for your mortgage company.