Having been referred to your site we were going to use a conveyancing solicitor in Lymington listed by you but have come across alternative costs illustrations on the internet appear less pricey – why is this?
There are plenty of conveyancing organisations promoting so-called £99 conveyancing, unfortunately it’s common in such cases for additionalfees result in the final fee being inflated. According to the Legal Ombudsman costs listed in terms of business should be fair and reasonable and be applied The solicitors that we put forward for conveyancing in Lymington specify all legal fees for the property you plan tobuy.
We're in Lymington, FTBs buying with a mortgage (lender is TSB , and our solicitor is on the TSB conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Two weeks ago we had a mortgage agreed in principle with Kent Reliance. Lymington conveyancing practitioners were appointed. How long does it take for Kent Reliance to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have Kent Reliance conducted the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm at the point of viewing apartments in Lymington and I am about to put in an offer. Is it wise to have my conveyancing practitioner on ‘stand by’? I will be getting a home loan with Virgin Money.
It would be prudent to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. Given that you are obtaining a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Lymington solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide 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 Lymington 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.
I got the keys to my home on 2 April and my personal details are still not registered. Any reason for this? My conveyancing solicitor in Lymington expressed confidence that it should be concluded in less than a month. Are properties in Lymington uniquely lengthy to register?
There is nothing unique about conveyancing in Lymington registration formalities. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether there are errors and if the Land registry must send notices to any other parties. Currently in the region of three quarters of submission are fully addressed in less than three weeks but some can be subject to protracted hold-ups. Registration occurs after the new owner is living at the premises so an expedited registration is not usually primary concern but where there is a degree of urgency associated with the registration then you or your conveyancer must speak with the land registry and explain the circumstances.
I have been on the look out for a flat up to £305k and identified one round the corner in Lymington I like with a park and railway links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Lymington suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.