We are selling our home in Houghton Le Spring. Will my solicitor have to be required to be on the Virgin Money conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
Last month we had a mortgage agreed in principle with Santander. Houghton Le Spring conveyancing practitioners have been appointed. How long does it take for Santander to issue the offer to the lawyer?
There is no definitive answer here. Have Santander done the valuation? Have you advised Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My fiancee and I are in the throws of viewing houses in Houghton Le Spring and I am about to put in an offer. Should I already have a conveyancer in place at this stage? I am planning to take a mortgage with Nottingham.
It would be sensible to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are taking out a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my flat. I had a double glazing fitted in May 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, HSBC are being pedantic. The Houghton Le Spring solicitor who is on the HSBC conveyancing panel is recommending indemnity insurance as a solution but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Houghton Le Spring differ for new build properties?
Most buyers of new build residence in Houghton Le Spring contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Houghton Le Spring 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 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 accustomed to new build conveyancing in Houghton Le Spring or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Houghton Le Spring is where the house is located. Can you offer any opinion?
Flying freeholds in Houghton Le Spring are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Houghton Le Spring you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Houghton Le Spring may determine 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.
In what way does the Landlord & Tenant Act 1954 impact my business premises in Houghton Le Spring and how can your lawyers assist?
The 1954 Act provides security of tenure to commercial leaseholders, granting the a statutory right to make a request to court for a renewal lease and remain in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Houghton Le Spring is one of the hundreds of locations in which the firms we work with are located
Is it best to instruct a Houghton Le Spring conveyancing lawyer based in the area that I am purchasing? I have an old university friend who can conduct the legal work but his firm is located over three hundred miles away.
The benefit of a local Houghton Le Spring conveyancing practice is that you can drop in to sign paperwork, deliver your identification documents and apply pressure on them where appropriate. They will also have local insight which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and they were happy that should surpass using an unfamiliar Houghton Le Spring conveyancing solicitor solely due to them being based in the area.