I can't travel far from Daventry. What is the rationale as to why all Daventry property lawyers are not on all mortgage company panels?
As unjust as it may seem for lenders to restrict who can represent them, from the public’s or conveyancer’s point of view, the the contrary view is that banks are becoming ever more anxious and consider it crucial to shield themselves against mortgage fraud. As a result of this concern banks are limiting their panel of approved conveyancing lawyers to a manageable size.
Can you explain why leasehold purchase conveyancing in Daventry costs more?
Daventry leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My property lawyer in Daventry is not listed on the Santander Approved Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the Santander list of approved lawyers?
The limited options open to you here include:
- Carry on with your preferred Daventry lawyers but Santander will need to use a conveyancer on their list of acceptable firms. This will result in additional overall legal fees as well as result in delays.
- Find an alternative lawyer to to deal with the purchase, remembering to check they are Santander approved.
- Persuade your Santander solicitor to seek to join the Santander panel
Will my lawyer be raising enquiries about flooding during the conveyancing in Daventry.
The risk of flooding is if increasing concern for lawyers dealing with homes in Daventry. Plenty of people will purchase a house in Daventry, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a numerous checks that may be carried out by the buyer or by their solicitors which can give them a better appreciation of the risks in Daventry. The standard completed inquiry forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to find out whether the premises has ever been flooded. If the residence has been flooded in past and is not revealed by the vendor, then a buyer may issue a legal claim for losses stemming from an inaccurate response. A buyer’s solicitors may also commission an environmental report. This should disclose whether there is a recorded flood risk. If so, additional investigations will need to be conducted.
How does conveyancing in Daventry differ for newly converted properties?
Most buyers of new build premises in Daventry approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Daventry tend to buy the land, 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 conveyancing solicitors 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 Daventry or who has acted in the same development.