we are a couple who are buying a purpose built apartment in Gants Hill with a loan from Virgin Money.We have a Gants Hill conveyancing lawyer but Virgin Money advised that she’s not on their "panel". we are left little option but to use a Virgin Money panel lawyer or retain our preferred solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Virgin Money use our lawyer?
Unfortunately,no. The mortgage issued to you is subject to its various provisions, a common one being that conveyancers needs to be on the Virgin Money solicitor panel. Until recently, most mortgage companies 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Virgin Money
Forgive me if this question is silly but I am new to the process as a 1st time buyer of a ground floor flat in Gants Hill. Do I collect the keys to the premises on the completion date from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in Gants Hill?
On the day of completion you will not be required to go to the conveyancers office in Gants Hill. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s conveyancers, and once they have received this, you will be invited to receive the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Gants Hill conveyancer on the Nottingham panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I had an offer accepted on a house in Gants Hill on 30/8/2019, valuation was booked 3 days after, all came back fine. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Bank of Ireland and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Bank of Ireland conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Gants Hill differ for new build properties?
Most buyers of new build premises in Gants Hill approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Gants Hill typically buy 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 conveyancing solicitors 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 accustomed to new build conveyancing in Gants Hill or who has acted in the same development.
I'm remortgaging my existing home to a buy to let mortgage with Barclays Direct and I will use the ballance of the raised equity as a down payment on another house. The neighborhood we are looking at is Gants Hill. Will your solicitors be able to act for both sets of mortgage companies and link together the conveyances?
Do use our search tool on this site to ensure that the conveyancers are approved by both banks. On the basis that they are the conveyancer will be able to connect the two transactions but you should have a chat with you conveyancer and make apparent your expectations and needs.
My partner has urged me to use his conveyancers in Gants Hill. Do I take his recommendation?
Much as we are happy to recommend a Gants Hill conveyancing lawyer the best way to find a conveyancing solicitor is to seek recommendations from friends or relatives who have actually previously instructed the firm you're considering.
Our conveyancing in Gants Hill is set to complete on Friday, but the people I am purchasing from wishes to move out on the Saturday at 2pm. Can I agree to such a idea?
In situations where you require a bank loan then your lawyer will demand that the property isvacant on Friday - the mortgage company will demand it.