My wife and I are buying a 3 bedroom apartment in Gorton with a mortgage. We like our Gorton solicitor, however the lender says he's not on their "panel". It seems we have little option but to appoint one of the bank panel solicitors or keep our Gorton conveyancer as well as pay for one of their panel ones to represent them. This seems very unfair; can we not insist that the bank use our Gorton conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Gorton conveyancing solicitor to apply to be on the conveyancing panel.
I have given 2 months notice to my existing landlord and have to vacate my let out apartment in Gorton by the end of next month. Conveyancing for my house purchase is underway. Can I complete in a couple of weeks as don't want to have to move into temporary accommodation?
Generally one should not provide notice for your lease until you have exchanged. Assuming that you have not already done so, speak to your conveyancer and urge them to they cajole the owners solicitors, try to an agreed time frame that everyone will aim to achieve
I have 70 years unexpired on my lease and need a lease extension for my apartment in Gorton. Conveyancing solicitors on the Platform panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 7/5/2021 the requirements read as follows :
I am the sole recipient of my late father’s estate and I have everything in my name now, including the house in Gorton. Conveyancing formalities meant that the Land Registry date was in April. I plan to dispose of the house. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership will be regarded the same way as if I'd bought the house in April. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs 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 sensible a view banks take of it, depend on the lender as this clause is chiefly there to pick up on subsales or the wholesaling and assigning of property.
I have a mortgage with Bank of Ireland for my property in Gorton. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Bank of Ireland must be informed of your intention before renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel lawyer.
I am selling my apartment. I had a double glazing fitted in April 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being difficult. The Gorton solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
We're FTB’s - agreed a price, but the property agent has warned us that the vendor will only move forward if we use their recommended conveyancers as they are insisting on a ‘quick sale’. We would rather use a family conveyancer with experience of conveyancing in Gorton
We suspect that the seller is unaware of this request. If they desire ‘a quick sale', alienating a serious buyer is counter productive. Avoid the agents and go straight to the sellers and make the point that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to appoint your own,trusted Gorton conveyancing solicitors - rather thanthose that will give their negotiator at the agency a introducer fee or achieve conveyancing targets pre-set by HQ.
How and when do I cover the costs of stamp duty due for my Gorton property purchase?
The solicitor should complete a Land Transaction Return Form for you during your Gorton conveyancing transaction for you to sign. After completion your conveyancing practitioner will submit the Land Transaction application to the Tax Authorities and - as long as they have the money - discharge any Stamp Duty due for you.