At what point will exchange of contracts take place for purchase conveyancing in Blandfordum and do I need to be at the conveyancers office?
Where you are near to our conveyancing solicitors in Blandfordum you are welcome to come in to sign contracts. However, the firms we work with provide countrywide coverage for conveyancing and provide just as detailed and professional a job for you when communicating with you digitally. The executing of the purchase agreement is not the important part. Signing on the dotted line is necessary for the solicitor to officially exchange at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Blandfordum)to be in the office available at the end of the phone to exchange contracts.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Blandfordum. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 18/12/2024, the requirements read as follows :
is it true that all Blandfordum solicitor firms on the UBS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be regulated by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Blandfordum conveyancing practitioner on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society 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 Leeds Building Society mortgage from the register. Leeds Building Society, 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Blandfordum solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Blandfordum surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Various web forums that I have come across warn that are the main reason for hinderance in Blandfordum house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Blandfordum.
How does conveyancing in Blandfordum differ for new build properties?
Most buyers of new build property in Blandfordum come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Blandfordum usually acquire 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 used to new build conveyancing in Blandfordum or who has acted in the same development.