We're in Sneinton, First timers buying with a mortgage (lender is TSB , and our lawyer 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 conveyancing practitioner 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.
What is your number one tip for choosing a conveyancing solicitor in Sneinton
We would encourage you not to base your choice on the cheapest Sneinton conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I'm the only beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Sneinton. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship will be regarded the same way as though I had purchased the house in October. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How practical a view mortgage companies take of it, depend on the mortgage company as this requirement principally exists to capture the purchase and immediately sell or the flipping of properties.
I was told four weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Sneinton is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Wolstenholmes several years ago for my conveyancing in Sneinton. Now, I need the files however cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Sneinton of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Sneinton differ for new build properties?
Most buyers of new build premises in Sneinton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because new home sellers in Sneinton usually purchase the site, 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 used to new build conveyancing in Sneinton or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Sneinton before appointing conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks may refuse to issue a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Sneinton. Conveyancing may be slightly more expensive based on your lender's requirements.