Me and my partner are purchasing a 1 bedroom apartment in Ledbury with a mortgage. We would like to retain our Ledbury conveyancer, but the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel firms or keep our Ledbury solicitor as well as pay for one of their panel firms to act for them. We consider that this is inequitable; are we not able to insist that the lender use our Ledbury lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Ledbury conveyancing solicitor to apply to be on the conveyancing panel.
I require expedited conveyancing in Ledbury as I am faced with an ultimatum to exchange contracts in less than one month. Luckily I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
As you are are a cash buyer you have the choice not to do searches although no conveyancer would suggest that you don't. With lots of history conveyancing in Ledbury the following are examples of what can crop up and adversely affect future saleability: Enforcement Actions, Outstanding Fees, Outstanding Grants, Road Schemes,...
How does conveyancing in Ledbury differ for newly converted properties?
Most buyers of new build residence in Ledbury come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Ledbury typically buy the land, 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 Ledbury or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Ledbury I like with amenity areas and station nearby, the downside is that it only has 61 years on the lease. There is not much else in Ledbury in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
My husband and I are novice buyers - agreed a price, yet the selling agent has warned us that the owners will only issue a contract if we appoint their chosen lawyers as they want a ‘quick sale’. We would rather use a family solicitor with experience of conveyancing in Ledbury
We suspect that the seller is unaware of this requirement. If they desire ‘a quick sale', turning down a motivated purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you are going to use your own,trusted Ledbury conveyancing lawyers - rather thanthe ones that will provide their negotiator at the agency a introducer fee or meet his conveyancing figures set by HQ.
What can I do to determine who is the owner of a house in Ledbury?
Provided the property is registered with HM Land Registry, and you have requisite details of the location of the premises, you should be able to obtain details from the HM Land Registry of the recorded owner for a fee.