I am purchasing a ground floor flat in Longford. My lawyer has never been on on the bank solicitor list. Can I still retain my Longford conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
You have a number of alternatives open to you here
- Proceed with your chosen Longford conveyancer but your bank will no doubt retain a conveyancer from their approved list. The net result is additional fees and potential delay.
- Choose a new solicitor to act in the purchase, making sure they are on the lender conveyancing panel.
- Convince your solicitor to attempt to join the bank panel
I am purchasing a brand new duplex in Longford and my lawyer is telling me that she has to the mortgage company to reveal incentives from the seller. The Estate Agents are hassling me to exchange contracts and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Longford?
There are many recorded licenced Conveyancers in Longford and Solicitor practices in Longford offering conveyancing It is important to make clear that the two are regulated professionals specialising in the legal aspects of the home buying process. They may both also deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I just bought a house at auction in Longford. Conveyancing is required. What happens now?
Having to all intents and purposes signed on the dotted line you must choose a conveyancing lawyer soon as you will have a fast approaching deadline in which to complete the transaction. An auction property should have an associated legal pack. This will include most,if not all of the paperwork that your conveyancer requires. Where you are dealing with leasehold property the conveyancing pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You need to hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding in place to complete on the date specified in the contract.
Are all Longford Conveyancing Quality Solicitors on the Santander conveyancing list of approved solicitors?
A selection of banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
I have been told that property searches are the primary cause of hinderance in Longford conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Longford.
Are there restrictive covenants that are commonly picked up during conveyancing in Longford?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Longford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in Longford I like with amenity areas and transport links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Longford in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage that many years will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.