I plan on acquiring a flat in Clophill. My lawyer has never been on on the lender approved list. Is it possible for me to use my Clophill conveyancing solicitor notwithstanding that they are excluded from the bank panel?
You will need to appoint a solicitor to complete the formalities if you take out a mortgage to purchase your property. The lawyer will carry out all the necessary due diligence on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage paperwork is in place. You can instruct a Clophill solicitor of your choice. Nevertheless, where the conveyancer selected is not a member of the mortgage company approved list further costs will be levied as separate legal representation will be need by the lender. Conveyancing panel applications can be submitted, so where your solicitor has not historically applied for membership they can do so.
My husband and I are getting closer to an exchange on a property in Clophill and my mum and dad have transferred the 10% deposit to my lawyer. I am now told that as the deposit has not arrived from me my property lawyer needs to make a notification to my bank. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The conveyancer is obliged to check with the bank to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Clophill. Do I receive the keys to the property on the completion date from my solicitor? If this is the case, I will find a local conveyancing solicitor in Clophill?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and move into your new home. Usually this happens early afternoon.
My husband and I are at the point of looking at houses in Clophill and I am about to put in an offer. Is it best to have a conveyancing practitioner on ‘stand by’? I will be getting a mortgage with TSB.
It would be advisable to start 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 pass their contact information on to the selling agent. As you are getting a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
I am currently in the process of buying my council flat in Clophill. I have a mortgage agreed with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I am looking for a leasehold apartment up to £305k and found one near me in Clophill I like with open areas and station in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Clophill for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
Is it best to instruct a Clophill conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can perform the legal formalities however they are based a couple of hundredkilometers drive away.
The primary upside of using a local Clophill conveyancing practice is that you can pop in to execute paperwork, deliver your ID and pester them if necessary. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and the majority were content that must trump using an unknown Clophill conveyancing lawyer just because they are local.
I have noted on various online forums that when selecting a conveyancing solicitors they need approved by your bank. I am novice purchaser but I have an AIP from Birmingham Midhshires and I already have a bricks and morter conveyancing solicitor in Clophill on standby. Can Birmingham Midhshires insist on an approved lawyer to be used? Does a list of approved conveyancers even exist for my conveyancing in Clophill?
You should choose a solicitor that is on the Birmingham Midhshires panel. Just telephone your preferred Clophill conveyancing solicitor and ask if they are on the Birmingham Midhshires panel. If they are not on the panel you have numerous options available to you here:
- Proceed with your existing Clophill conveyancer but Birmingham Midhshires will no doubt appoint a conveyancer from their approved list. This will result in additional cost together with potential frustration.
- Choose a fresh lawyer to conduct the conveyancing, making sure they are on the Birmingham Midhshires conveyancing panel.
- Convince your conveyancer to do everything possible to get listed on the Birmingham Midhshires panel of solicitors.