At what point does exchange of contracts happen for domestic conveyancing in Warwickshire and do I need to be at the conveyancers office?

If you are local to one of the conveyancing solicitors in Warwickshire you are welcome to attend to sign contracts. That being said, the lender approved solicitors we work with offer countrywide coverage for conveyancing and provide just as detailed and professional a job for you when communicating with you electronically. The executing of the contract is not the point of no return. A signed contract simply enables the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Warwickshire)to be in the office available at the end of the phone to exchange contracts.

is it true that all Warwickshire solicitors on the Aldermore conveyancing panel are regulated by the Solicitors Regulatory Authority?

As solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the SRA. Many banks do list licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.

I had a mortgage agreed in principle with RBS. Warwickshire conveyancing lawyers were instructed. How long does it take for RBS to issue the offer to the conveyancing practitioner?

Some lenders take longer than others. Have RBS done the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

I am due to exchange contracts on my house. I had a double glazing fitted in February 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being problematic. The Warwickshire solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?

It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

How does conveyancing in Warwickshire differ for newly converted properties?

Most buyers of new build property in Warwickshire come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Warwickshire typically 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 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 Warwickshire or who has acted in the same development.

I am thinking of appointing a conveyancing practitioner in Warwickshire for my purchase. Is it possible to check a firm’s complaints history with the profession’s regulator?

Anyone can search for documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator could recorded telephone calls for training reasons.

I own a leasehold flat in Warwickshire. Conveyancing was completed in last year. I have read on numerous advice forums that I mustn’t allow the the remaining lease term to get too short. What is the reasoning?

Warwickshire residential long term leases are for a prescribed term - often ninety nine years when they are first granted. However a significant appartments in Warwickshire were built or converted in the 70’s80’s and so such leases now have under 80 years remaining. That may seem like a long time but Banks, Building Societies and other mortgage institutions tend to need leases to have at least seventy five years remaining to adequate security. This means that when you come to sell the property you will need a lease extension if you are getting close to 75 years. To enhance the marketability of your property you should be thinking about whether to extend your lease well in advance of selling the property. You should note that there are advantages to taking action before the lease hits eighty years as when the lease is less than eighty years the premium you have to pay to extend starts to increase.