My husband and I are intent on acquiring a leasehold flat in Horsford. My lawyer is not listed on the lender solicitor list. Is it possible for me to retain my Horsford conveyancing solicitor even though they are excluded from the lender panel of approved conveyancing solicitors?
You have numerous alternatives open to you here
- Complete the purchase with your existing Horsford conveyancer but your bank will undoubtedly appoint a property lawyer on their approved list. This will result in additional cost and likely frustration.
- Get a new conveyancing practitioner to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Convince your solicitor to pull out all the stops to join the lender’s conveyancing panel
Can conveyancing in Horsford to be done within 10 days?
Where the seller is applying time constraints to sign contracts it is highly recommended that your conveyancer is familiar with the area as they will have local connections and knowledge. It is possible that they may have conducted otherhouses in the same street. You would be best advised to use a Horsford conveyancing firm. Second, check that the conveyancing firm is on the member panel. It is said that 18% of Horsford conveyancing deals are held up or jeopardised after discovering a purchaser’s solicitor was not on their mortgage lender’s list of approved solicitors. This can often result in the conveyancing being delayed by an average of 21 days. It is said that this issue impacts in the region of one hundred thousand home sales every year. Many Horsford conveyancing practices can not act for certain banks so do check at the outset.
We are buying a newbuild flat in Horsford with a residential mortgage from Virgin Money.We have a Horsford conveyancing lawyer but Virgin Money advised that she’s not on their "panel". We have to appoint a Virgin Money panel firm or retain our local solicitor and pay for a Virgin Money panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Virgin Money use our lawyer?
Unfortunately,no. The loan issued to you contains terms and conditions, a common one being that solicitors will be on the Virgin Money conveyancing panel. Until recently, most lenders had large numbers of solicitors 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 solicitors to apply to be on the conveyancing panel for Virgin Money
I used Stirling Law a few years ago for my conveyancing in Horsford. Now, I need my documents but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Horsford of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a leasehold apartment up to £195,000 and found one close by in Horsford I like with a park and railway links in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Horsford in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I'm refinancing my current house to a BTL loan with Yorkshire Building Society and intend to use the remaining equity towards a second property. The area we are talking about is Horsford. Will your lawyers be able to act for both sets of mortgage companies and link together the transactions?
Make use of our comparison tool on this page to ensure that the solicitors are approved by both banks. On the basis that they are the solicitor will be able to connect the two transactions but you should have a chat with you conveyancer and specify your expectations and requirements.