It is a dozen years since I purchased my home in Elmswell. Conveyancing solicitors have recently been retained on the sale but I can't track down the deeds. Is this a major issue?
You need not be too concerned. First the deeds may be retained by your lender or they could stored with the lawyers who handled your purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring current official copies of the land registers. Most conveyancing in Elmswell involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
A relative pointed out to me me that in buying a property in Elmswell there could be various restrictions preventing external changes to the property. Is this right?
There are anumerous of properties in Elmswell which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Elmswell should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Kent Reliance, do Elmswell conveyancing practitioners have to pay an annual charge to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
It is unclear whether my lender requires a lease extension. I have called into my local Elmswell bank branch on a couple of occasions and was told it does not impact the mortgage offer and they would lend. My Elmswell conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend based on their specific requirements. Who do I believe?
The property lawyer must comply with the CML Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Elmswell differ for new build properties?
Most buyers of new build residence in Elmswell come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because builders in Elmswell typically 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 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 used to new build conveyancing in Elmswell or who has acted in the same development.
We're first time buyers - had an offer accepted, but the selling agent informed us that the seller will only move forward if we appoint the agent's preferred conveyancers as they want a ‘quick sale’. We would rather use a high street conveyancer accustomed to conveyancing in Elmswell
We suspect that the seller is not behind this demand. Should the seller require ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Try to communicate with the sellers directly and make the point that (a)you are motivated buyers (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you intend to use your own,trusted Elmswell conveyancing lawyers - not the ones that will earn the estate agent a introducer fee or meet his conveyancing thresholds pre-set by head office.
What are the distinct advantages to using a local solicitor in Elmswell
Plenty of house movers in Elmswell prefer a local solicitor so that they can attend the lawyer’s offices in the event that they have concerns, and to sign documents rather than run the risk of relying on the post.
Some would argue that there exists a slight benefit in opting for a conveyancing practitioner nearby to the premises you are buying, due to the knowledge of the region and possible local issues - yet this is debatable. The majority of conveyancers undertaking their communications via email and may be any place in the world.