We are intending to purchase a 1 bedroom apartment in Boldon with a mortgage. We wish to retain our Boldon lawyer, but the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Boldon solicitor as well as pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Boldon conveyancing lawyer to apply to be on the conveyancing panel.
We wanted to use a conveyancing solicitor in Boldon for our house purchase. Our financial adviser has since advised us that our mortgage company Santander won't deal with them. Why is this not regarded as unfair competition?
A lender will insist on an approved conveyancer act for it. You would be expected to meet the charges for this. Please make use of our tool to choose a solicitor to conduct conveyancing in Boldon on the Santander conveyancing panel.
What is the difference between a licensed conveyancer and conveyancing solicitor in Boldon
There are many registered licenced Conveyancers in Boldon and Solicitor firms in Boldon to choose from It is important to make clear that both are regulated professionals specialising in the legal aspects of the home buying process. The two can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am the only beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Boldon. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership could be treated the same way as if I'd bought the house in March. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view mortgage companies take of it, depend on the lender as this requirement is chiefly there to capture the purchase and immediately sell or the flipping of property.
My sealed bid on a detached house in Boldon has been agreed to, the vendors do however have a tied purchase. The owners have placed an offer on a property, however it’s not been accepted yet, and have viewings of other apartments booked. I have chosen a bricks and mortar conveyancing solicitor in Boldon. What do I do now? When do I get the mortgage application with Principality going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then valuation, Boldon conveyancing search charges, etc). First, you must check that your conveyancer is on the Principality conveyancing panel. Regarding the subsequent stages this very much depends on the uniqueness of your transaction, attraction to the property and on the state of the market. In a buoyant market some home buyers will apply for the mortgage with Principality and pay for the valuation and only if it comes back ok would they request their conveyancing practitioner to press on with searches.
We are planning on selling our home in Boldon and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any local lawyer would know this is not the case. For the life of me I don't know why the purchasers are using a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Boldon. We have lived in Boldon for three years we know of no issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I have been on the look out for a flat up to £305k and identified one near me in Boldon I like with amenity areas and transport links nearby, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Boldon for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease will be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
My estate agent has recommended their solicitor for our conveyancing in Boldon - Surely it’s better to just use them?
You need to establish if the estate agent is recommending a lawyer or introducing to a conveyancing practitioner. There are plenty of Boldon estate agents who recommend two or three Boldon conveyancing firms purely based on those lawyers offering a great service.