Me and my fiance are hoping to acquire a 1 bedroom flat in Belvedere with a mortgage. We like our Belvedere conveyancer, however the bank says she’s not on their "panel". It appears that we have little choice but to instruct one of the bank panel conveyancing practices or retain our Belvedere lawyer and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Belvedere conveyancing lawyer to apply to be on the conveyancing panel.
I am purchasing a property and need a conveyancing solicitor in Belvedere who is on the Aldermore solicitor. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Aldermore in certain locations such as Belvedere. We dont recommend any particular firm.
We were going to get a DIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Belvedere solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Belvedere solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
Santander have agreed my home loan in principle, my bid on a house in Belvedere has been accepted, now what?
Your property agent will need to be informed of your solicitor's details (ensure that the lawyers are on the bank’s panel). Contact Santander or the broker and finish off any relevant forms. Santander will sellect a valuer who will get in touch with the selling agent or vendor to book a time for the valuation to occur. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. Santander will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Belvedere.
Our offer on a house in Belvedere has been accepted, but there is a chain. The owners have put an offer on a property, but it’s not yet agreed to, and are looking at other properties booked. I have chosen a nearby conveyancing solicitor in Belvedere. What should be my next step? When do I get the mortgage application with Bank of Ireland started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Belvedere conveyancing search fees, etc). The first thing to do is check that your conveyancer is on the Bank of Ireland approved list. Regarding the next phase this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. During a hot market many buyers would apply for a home loan with Bank of Ireland and arrange for the valuation and only if it was satisfactory would they ask their lawyer to press on with searches.
What will a local search inform me about the house we're purchasing in Belvedere?
Belvedere conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search is essential in every Belvedere conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search should provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one round the corner in Belvedere I like with open areas and railway links nearby, however it only has 49 years on the lease. I can't really find anything else in Belvedere for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Is it best to instruct a Belvedere conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can handle the legal work but they are based over three hundred kilometers away.
The benefit of a local Belvedere conveyancing practice is that you can attend the office to execute documents, deliver your ID and pester them where appropriate. Having local Belvedere know how is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that must trump using an unfamiliar Belvedere conveyancing lawyer solely due to them being based in the area.