Me and my partner are buying a 3 bedroom apartment in Hampden Pk with a mortgage. We wish to retain our Hampden Pk solicitor, but the lender says she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Hampden Pk property lawyer and pay for one of their panel ones to act for them. We regard this is unjust; 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 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. A further alternative is for your Hampden Pk conveyancing lawyer to apply to be on the conveyancing panel.
My lawyer has uncovered a a problem with the lease for the flat we are purchasing in Hampden Pk. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer has advised that he must ensure that the bank is content with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. The appropriate lender specifications have to be complied with.
A friend advised me that if I am buying in Hampden Pk I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Hampden Pk conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Hampden Pk around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hampden Pk Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Hampden Pk Education with plans and statistics, Local Amenities and other useful data regarding Hampden Pk.
About to purchase a new build apartment in Hampden Pk. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Hampden Pk
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Is it simple use the search tool to choose a conveyancing lawyer in Hampden Pk on the approved list for my lender?
First choose a lender such as National Westminster Bank, Leeds Building Society or Platform Home Loans Ltd then specify your preferred area for example Hampden Pk. Conveyancing practices in Hampden Pk and further afield should be identified.
Finally our conveyancing in Hampden Pk is set to complete this Friday, but the vendors I am buying from has asked to move out 24 hours later at at 2pm. Do I accept such a plan?
If you require a loan then your conveyancer will require that the premises arevacant on Friday - the bank will insist on it.