My wife and I are hoping to buy a house in Sunbury and have instructed a Sunbury conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Nottingham Building Society have this morning contacted us to inform me that they have now hit a problem as our Sunbury lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is normal 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 Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Sunbury lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Why do I have to pay up front when it comes to conveyancing in Sunbury?
If you are buying a property in Sunbury your solicitor will request that you place them with monies to cover the search fees. Normally this is called for to cover the fees of the Local Authority Search. When the down payment is payable against the total price then this should be needed shortly ahead of exchange of contracts. Any further balance that is needed should be transferred a couple of days prior to the day of completion.
I am purchasing a house and the lawyer has raised the issue of Chancel Repair to which the property may be obligated to contribute to because it falls into the area of such a church. She has mentioned insurance. Is this strictly necessary for conveyancing in Sunbury
Unless a prior acquisition of the premises took place post 12 October 2013 you can expect solicitors conducting conveyancing in Sunbury to remain encouraging a chancel search and or insurance against a claim.
How does conveyancing in Sunbury differ for newly converted properties?
Most buyers of new build residence in Sunbury contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Sunbury usually buy 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 property lawyers 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 Sunbury or who has acted in the same development.
I am selling my property. My past conveyancers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Sunbury if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Sunbury. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.