Do I need to pop into the offices of the solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Lancaster so that I can pop in to their offices if required.
Whereas this was necessary ten years ago, the vast majority lenders no longer oblige their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to supply ID documents and there are still distinct benefits to using a local solicitor, in your situation a conveyancing solicitor in Lancaster.
Does a directory service exist listing Coventry BS panel solicitors in Lancaster on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the CML or Building Society Association sites. A small selection of lenders make their panel listings open the public on the web. Where you are looking for a Lancaster solicitor on the Coventry BS please make the most of our facility.
We previously selected conveyancers with offices in Lancaster on the Virgin Money solicitor approved list. They are now charging me a separate sum for handling the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
Provided it is contained in their Terms of Engagement or Quote then yes your lawyer may levy a fee for this. The charge is not dictated by Virgin Money but by your Lancaster conveyancer. Plenty of firms on the Virgin Money panel will charge an ‘acting for lender’ fee and others do not.
It is unclear whether my bank requires a lease extension. I have telephoned my Lancaster building society branch on numerous occasions and was informed it wasn't an issue and they would lend. My Lancaster conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend based on their published requirements. Who do I believe?
The conveyancer must follow the Council of Mortgage Lenders’ Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
It has been 2 months since my purchase conveyancing in Lancaster concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a flat up to £235,500 and identified one close by in Lancaster I like with amenity areas and transport links nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Lancaster for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
How do I locate a Lancaster law firm on the Chelsea Building Society conveyancing panel? I have wheels and am prepared to travel upto 10kilometers to meet the lawyer.
You can use the facility on this website. Please select a lender and your location and you will see a number of Lancaster conveyancing lawyers located nearest you. We have listed some Lancaster conveyancing firms towards the end of this page and you can call them to check if they are on the Chelsea Building Society panel
Is it best to go with a Lancaster conveyancing lawyer based in the vicinity that I am purchasing? I have an old university friend who can execute the conveyancing however her office is a couple of hundredkilometers drive away.
The benefit of a local Lancaster conveyancing firm is that you can pop in to sign documents, present your identification documents and pester them if necessary. Having local Lancaster know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were happy that should surpass using an unfamiliar Lancaster conveyancing solicitor solely due to them being local.