I am not in a position to travel far from Beaminster. Can you please spell out why all Beaminster lawyers aren't automatically on all mortgage company panels?
Lenders normally impose restrictions on either the nature or volume of conveyancing practices on their panel. A common example of such criteria being that a firm is required to have at least two partners. In addition to restricting the nature of firm, some lenders made a decision to restrict the size of their panel they allow to represent them. You should note that building societies have no liability for the quality of advice supplied by any Beaminster property lawyer on their approved list. Property fraud was the main trigger for the reduction of conveyancing panels from 2008 even though there are conflicting assessments about whether solicitors sat at the center of that fraud. Data published by HMLR exposes that thousands of conveyancing organisations only carry out one or two conveyances a year. Those advocating conveyancing panel consolidation question why law firms deserve claim to remain on a lender panel when clearly property law is not their speciality?
My property lawyer in Beaminster is not listed on the Godiva Mortgages Ltd Solicitor Panel. Is it possible for me to continue with my prefered solicitor even though they are excluded from the Godiva Mortgages Ltd approved list?
Your options are as follows:
- Carry on with your preferred Beaminster lawyers but Godiva Mortgages Ltd will need to instruct a solicitor on their list of acceptable firms. This will result in additional overall conveyancing charges and result in frustration.
- Find an alternative solicitor to act in the conveyancing, not forgetting to check they are on the Godiva Mortgages Ltd panel
Planning on purchasing a apartment in Beaminster. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Beaminster conveyancer is on the Barclays conveyancing panel.
My offer was accepted on a house in Beaminster on 29/5/2024, valuation was booked five days after, all came back fine. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Santander and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Santander conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have finally had an offer on a maisonette in Beaminster accepted, but there is a chain. The owners have offered on on an apartment, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have chosen a high street conveyancing solicitor in Beaminster. What do I do now? At what point do I apply for the mortgage with Lloyds?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx one thousand pounds, then survey, Beaminster conveyancing search costs, etc). The first thing to do is check that your property lawyer is on the Lloyds conveyancing panel. As to the next steps this very much depends on the uniqueness of your case, attraction to the property and on the state of the market. In a hot market the majority of purchasers would apply for the mortgage with Lloyds and arrange for the valuation and only if it was satisfactory would they ask their property lawyer to proceed with searches.
I have justbecome aware that Action Conveyancing have closed. They carried out my conveyancing in Beaminster for a purchase of a leasehold flat 12 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Beaminster conveyancing specialists.
How do I use your search tool to locate a conveyancing practitioner in Beaminster on the authorised to act for my mortgage?
1st pick a mortgage company such as Halifax, Bank of Scotland or Godiva Mortgages Ltd then choose your location e.g. Beaminster. Conveyancing practices in Beaminster and further afield should be shown.
Having had my offer accepted I require leasehold conveyancing in Beaminster. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Beaminster - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 1 bedroom flat in Beaminster, conveyancing was carried out in 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Beaminster with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2081
With only 57 years remaining on your lease we estimate the price of your lease extension to span between £26,600 and £30,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.