We're in Shaw, First timers buying with a mortgage (lender is Nationwide , and our solicitor is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor 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.
Should our conveyancer be making enquiries regarding flooding as part of the conveyancing in Shaw.
Flooding is a growing risk for lawyers dealing with homes in Shaw. There are those who acquire a house in Shaw, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a numerous checks that may be initiated by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Shaw. The conventional set of completed inquiry forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to find out whether the property has ever been flooded. If the residence has been flooded in past and is not revealed by the owner, then a buyer could commence a compensation claim as a result of such an inaccurate response. A buyer’s conveyancers should also conduct an environmental report. This will disclose whether there is any known flood risk. If so, further inquiries should be made.
I got the keys to my flat on 4 June and the transaction details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Shaw said it will be formalised in less than a month. Are properties in Shaw particularly slow to register?
As far as conveyancing in Shaw is concerned, registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can adjust depending on the party submitting the application, whether there are errors and if the Land registry have to notify any interested parties. At present in the region of three quarters of such applications are fully dealt with within 12 days but some can be subject to longer delays. Registration occurs after the new owner has moved in to the property therefore registration formalities is not typically top priority but if it is urgent that the the registration takes place urgently then you or your solicitor can contact the land registry and explain the circumstances.
Is it best to instruct a Shaw conveyancing practitioner in close proximity to the house I am purchasing? I have an old university friend who can carry out the legal work but they are based a couple of hundredkilometers drive away.
The benefit of a local Shaw conveyancing practice is that you can pop in to sign documents, hand in your ID and pester them if necessary. They will also have local intelligence which is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were impressed that should outweigh using an unfamiliar Shaw conveyancing solicitor solely due to them being Shaw based.
We are soon to exchange on the purchase a property in Shaw but as a result of damage from the recent storms I have negotiated reparation from the vendor of £2k by way of a deduction in the price. This was going to be dealt with as part of the conveyancing process yet my bank will not permit this. Should they have been involved?
Your property lawyer listed on the lender conveyancing panel is required to disclose to the bank of any amendments to the sale figure. In the event that you prohibit your conveyancer to notify the price change to your mortgage company then they would have to refrain from representing you and the mortgage company.