My partner and I are planning to buy a home in Crosby and have instructed a Crosby conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Godiva Mortgages Ltd have this afternoon contacted us to inform me that they have now hit a problem as our Crosby solicitor is not on their approved list of lawyers. Please explain?
Where you are buying a property needing a mortgage it is normal for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Crosby solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel solicitor as I would much rather appoint a Crosby based conveyancing firm?
Do check but the the likelihood is that allocate you one of their panel lawyers where you want the "fee-free" offer. Speak to the mortgage company and check if they allow a monetary alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Crosby.
I have justbecome aware that Stirling Law have closed. They conducted my conveyancing in Crosby for a purchase of a leasehold apartment 12 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest method to check if the property is in your name, you can carry out 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 Crosby conveyancing specialists.
Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Crosby I like with open areas and railway links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Crosby suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Given that I will soon part with 450k on a two bedroom apartment in Crosby I wish to have a conversation with the lawyer about myhome move before instructing the firm. Can this be arranged?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the solicitor due to be doing your property ownership legalities in Crosby.There is no ‘factory style conveyancing’ - each client is an important individual, not a file number. The practices that we put you in touch with believe that the figure you are quoted for your conveyancing in Crosby should be the amount on the final invoice that you end up paying.
We have appointed a Crosby conveyancing solicitor for our home move (FTB’s) and have spotted in the Ts and Cs that they are not overseen by the Financial Conduct Authority. Need I be concerned or is that usually the case with lawyer?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who dictate strict obligations in place on amounts sitting by them.