Is it the case that all Newtown solicitor practices on the Virgin Money conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some mortgage companies do allow licenced conveyancers on their panel and in that case the practice would be regulated by the CLC.
Two weeks ago we had a mortgage agreed in principle with Kent Reliance. Newtown conveyancing solicitors have been chosen. How long does it take for Kent Reliance to send the offer to the property lawyer?
There is no definitive answer here. Have Kent Reliance done the survey? Have you informed Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have a mortgage with Aldermore for my property in Newtown. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Aldermore?
Aldermore must be informed of your intention prior to renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. It may be that Aldermore will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel firm.
I have been told that property searches are the primary cause of delay in Newtown house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Newtown.
How does conveyancing in Newtown differ for new build properties?
Most buyers of new build residence in Newtown contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because developers in Newtown tend to purchase 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 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 Newtown or who has acted in the same development.
I opted to have a survey done on a house in Newtown in advance of instructing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies will not give a loan on this type of home.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Newtown. Conveyancing will be smoother if you use a solicitor in Newtown especially if they regularly deal with such properties in Newtown.
How simple is it to swap conveyancer as I have to find one who is on the TSB conveyancing panel. I was using a high street conveyancing solicitor in Newtown round the corner but he is not approved by TSB
We will our best to assist in finding you a conveyancing solicitor in Newtown on the TSB panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Newtown. In making use of search facility on this website, you can scrutinise charges for conveyancing solicitors in Newtown and beyond.