We are purchasing a 3 bedroom flat in Fenham with a mortgage. We like our Fenham lawyer, but the mortgage company says he's not on their "panel". It appears that we have little option but to appoint one of the mortgage company panel solicitors or continue with our Fenham property lawyer and pay for one of their panel ones to act for them. We regard this is inequitable; is there anything we can do?
No, not really. Your mortgage offer 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 Fenham conveyancing solicitor to apply to be on the conveyancing panel.
Do I have to pop into the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Fenham so that I can attend their offices if necessary.
As opposed to 15 years ago, the vast majority mortgage companies no longer require their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to supply identification documents and there are still manifest benefits to using a locally based practitioner, in your situation a conveyancing solicitor in Fenham.
I have a semi-detached Georgian property in Fenham. Conveyancing practitioner represented me and Birmingham Midshires. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the matching property. Is it worth asking Birmingham Midshires to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fenham and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
How does conveyancing in Fenham differ for new build properties?
Most buyers of new build premises in Fenham contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is completed. This is because developers in Fenham tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Fenham or who has acted in the same development.
In sourcing the web for the words cheap conveyancing in Fenham it shows results of numerous solicitorslocally. With so much choice what is the best way to find the suitable conveyancer for my move?
The preferential way of choosing a suitable conveyancer is through a trusted referral, so enquire of friends and relatives who have bought a property in Fenham or a reputable estate agent or mortgage broker. Fees for conveyancing in Fenham differ, so it's advisable to secure at least three fee estimates from varying types of solicitors. Dont forget to clarify what costs in the quote includes.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Fenham. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Fenham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Fenham so you should seriously consider looking for a Fenham conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.