We're in Stamford, First timers buying with a mortgage (lender is Nottingham , and our lawyer is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham 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.
If you had a top tip for selecting a conveyancing solicitor in Stamford what would it be?
It would be unwise to be swayed by the cheapest Stamford 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.
Two weeks ago we had a mortgage agreed in principle with RBS. Stamford conveyancing practitioners were appointed. What is the average time that one could expect to receive a mortgage offer from RBS?
There is no definitive answer here. Have RBS completed the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
At last I have had an offer on an apartment in Stamford agreed to, the sellers do nevertheless have a dependent purchase. The owners have put an offer on a property, but it’s not been accepted yet, and have viewings of other flats in the pipeline. I have selected a nearby conveyancing solicitor in Stamford. What should be my next step? At what point do I apply for the mortgage with Leeds Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Stamford conveyancing search charges, etc). The first thing to do is ensure that your conveyancing practitioner is on the Leeds Building Society conveyancing panel. Regarding the next steps this very much depends on the uniqueness of your case, attraction to this property and on the state of the market. During a hot market some home buyers would apply for the mortgage with Leeds Building Society and arrange for the valuation and only if it comes back ok would they request their solicitor to proceed with the conveyancing in Stamford.
What will a local search inform me regarding the property we're purchasing in Stamford?
Stamford conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search is essential in every Stamford conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Stamford is the location of the property. Can you offer any advice?
Flying freeholds in Stamford are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stamford you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stamford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are novice buyers - agreed a price, but the estate agent told us that the vendor will only move forward if we instruct their preferred conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Stamford
It is improbable the sellers are driving this. If they require ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Speak to the vendors direct and make the point that (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to appoint your preferred Stamford conveyancing solicitors - rather thanthose that will earn their negotiator at the agency a introducer fee or achieve conveyancing targets demanded by corporate headquarters.