It is is a decade since I acquired my home in Watnall. Conveyancing lawyers have now been appointed on the sale but I can't locate the deeds. Will this cause complications?
Don’t worry too much. First the deeds may be retained by the mortgage company or they may be in the possession of the conveyancers who oversaw your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in Watnall involves registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Watnall?
There are many recorded licenced Conveyancers in Watnall and Solicitor practices in Watnall to choose from It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in transferring property. The two can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
is it true that all Watnall solicitor firms on the Kent Reliance conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do list licenced conveyancers on their panel in which case such firms would be governed by the CLC.
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Watnall bank branch on various occasions and was told they are content with the situation and they would lend. My Watnall conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the solicitor is on the mortgage company approved list, they must comply with the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
A colleague advised me that if I am purchasing in Watnall I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Watnall conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Watnall around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Watnall Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Watnall Education with maps and statistics, Local Amenities and other useful information regarding Watnall.
How does conveyancing in Watnall differ for newly converted properties?
Most buyers of new build premises in Watnall come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Watnall tend to buy 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 used to new build conveyancing in Watnall or who has acted in the same development.
My husband and I are new to the buying process - had an offer accepted, yet the estate agent has warned us that the seller will only go ahead if we use their recommended lawyers as they want an ‘expedited deal’. We would rather use a high street solicitor with experience of conveyancing in Watnall
It is improbable the vendors are driving this. If they desire ‘a quick sale', alienating a serious buyer is is going to put the whole deal at risk. Try to communicate with the sellers directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Watnall conveyancing solicitors - not the ones that will earn their negotiator at the agency a introducer fee or achieve conveyancing targets pre-set by head office.
I am thinking of choosing an online solicitor rather than a Watnall conveyancing firm. Should I ‘stay local’?
Advantages do exist in having the option visit a local Watnall conveyancing solicitor for instance
- signing papers same day
- sometimes being able to speak to someone face-to-face can make a huge difference, particularly for more complex conveyancing
- the ability to complain if things are not going as expected
When comparing fees, look out for hidden extras. The majority decent Watnall high street solicitors give an all-inclusive price. Many online companies appear to offer discounted fees, but have burried 'extras' in the small print.