My fiance and I are hoping to purchase a flat in Alnmouth and have instructed a Alnmouth conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Godiva Mortgages Ltd have this morning contacted us to advise us that there is now an issue as our Alnmouth conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Alnmouth solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
As someone unfamiliar with conveyancing in Alnmouth what’s the number one tip you can impart concerning the home moving process in Alnmouth
Not many law firms shout this from the rooftops but conveyancing in Alnmouth and elsewhere in Northumberland is an adversarial process. Put another way, when it comes to conveyancing there is lots of room for conflict between you and others involved in the legal transfer of property. For instance, the seller, estate agent and on occasion the mortgage company. Selecting a law firm for your conveyancing in Alnmouth should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the legal process whose role it is to protect your best interests and to keep you safe.
On occasion a potential adversary will attempt to convince you that it is in your interests to do things their way. As an example, the estate agent may claim to be assisting by suggesting your lawyer is slow. 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.
What can a local search inform me regarding the property I am purchasing in Alnmouth?
Alnmouth conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company for instance Onsearch The local search is essential in every Alnmouth conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your property. The search should supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
How does conveyancing in Alnmouth differ for new build properties?
Most buyers of new build residence in Alnmouth come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Alnmouth typically buy 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 conveyancers 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 Alnmouth or who has acted in the same development.
Taking into account that I am about to spend over three hundred thousand on a property in Alnmouth I would like to have a conversation with the lawyer concerning thehome move prior to giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you liaising with the conveyancer due to be carrying out your conveyancing in Alnmouth.There is no ‘factory style conveyancing’ - every client is unique person, not a case reference. The practices that we put you in touch with believe that the fees you are provided with for your conveyancing in Alnmouth should be the figure that you end up paying.