I am in a contract race with another prospective purchaser for a property in Winslow. What can I do to expedite the legal process?
In a situation where you are under time constraints to sign contracts it is highly recommended that your solicitor is familiar with the location as they will have local contacts and intelligence. It is possible that they would have handled previoushomes in the same road. You would be best advised to use a Winslow conveyancing firm. In addition, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is believed that just under twenty per cent of Winslow conveyancing deals are suspended or derailed after finding out that a buyer’s lawyer was not on their mortgage lender’s member panel. This can often result in the legal process being delayed by an average of 21 days. It is estimated that this issue impacts in the region of one hundred thousand home sales annually. Most Winslow conveyancing firms can not act for certain mortgage companies so do check at the outset.
Our mortgage company has recommended a law firm on their panel based in Winslow but I would rather choose a conveyancing lawyer in Winslow round the corner to me. Can you help?
It is by no means the case that all Winslow conveyancing practitioners are on all banks conveyancing panel. Please make the most of the above find an approved solicitor tool to identify a Winslow conveyancing solicitor on the on the lender panel.
When it comes to lenders such as Barclays, do Winslow lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Winslow solicitor on the Aldermore panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Winslow building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Winslow conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their specific requirements. I simply don't know who is right.
Provided that the conveyancer is on the mortgage company panel, they must comply with the Council of Mortgage Lenders’ Handbook provisions 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Various internet forums that I have visited warn that are the number one cause of delay in Winslow conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Winslow.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Winslow?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Winslow. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
About to purchase a new build flat in Winslow. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Winslow
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.