My partner and I are looking to purchase a home in Great Missenden and have instructed a Great Missenden conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Bank of Ireland have this evening contacted us to inform me that there is now an issue as our Great Missenden conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also represent 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 Quality Scheme. Your property lawyer 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 Great Missenden solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We are purchasing a property in Great Missenden. I might seem paranoid but how we can trust a lawyer? On completion day we will need to put funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am due to move property in January. Will my conveyancing solicitor update the removal company on the day of completion. As an aside, can you recommend a removal company in Great Missenden. Conveyancing solicitor was found before I stumbled across your page.
On the afternoon of completion you can pick up the keys from your property agent but this can only happen once the vendors solicitors inform the agent that the monies to complete are in and the keys can be collected. Subsequently you should inform the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can help you find a conveyancing in Great Missenden or a solicitor with expertise in conveyancing in Great Missenden.
Our sealed bid on a house in Great Missenden has been agreed to, but there is a chain. The vendors have offered on on an apartment, however it’s not yet tied up, and are looking at other properties booked. I have selected a local conveyancing solicitor in Great Missenden. What do I do now? When do I get the mortgage application with Clydesdale going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of £1k, then survey, Great Missenden conveyancing search charges, etc). The first thing to do is ensure that your conveyancing practitioner is on the Clydesdale approved list. As to the next steps this very much depends on the specifics of your case, attraction to the property and on the state of the market. During a hot market many purchasers will apply for a home loan with Clydesdale and arrange for the valuation and only if it was satisfactory would they pay their lawyer to proceed with searches.
The deeds to my home are lost. The lawyers who dealt with the conveyancing in Great Missenden 5 years ago are no longer around. What are my next steps?
In today’s world there are duplicates made of almost everything, and your lawyer should be aware exactly where to look for all the suitable paperwork so you can buy or dispose of your house without any difficulty. If copies can’t be found, your conveyancer can put in place insurance or indemnities protecting you against future claims on your property.
I have been on the look out for a ground for flat up to £235,500 and found one round the corner in Great Missenden I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Great Missenden in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
What is the average legal costs for conveyancing in Great Missenden?
The average cost in 2014 for conveyancing in Great Missenden was £1,419 not including Stamp Duty and Land Registry fees.