Me and my fiance are buying a 2 bedroom flat in Longridge with a mortgage. We like our Longridge solicitor, however the mortgage company says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Longridge lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you 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. Another option that might be available is for your Longridge conveyancing lawyer to apply to be on the conveyancing panel.
Are you able to suggest a Birmingham Midshires accepted Longridge conveyancing solicitor finish our house move within 28 days? Would it be better to use a high street Longridge firm or an internet conveyancer?
We can recommend some very good Longridge conveyancing firms. Another option is to visit the main road in Longridge. Go in to two or three law practices and request to see a conveyancing solicitor for a costs illustration. Mention your time frames together with your reasons and ask for an assurance on your deadline. Appoint the lawyer that appears most efficient.
My wife and I have recently appointed a conveyancing solicitor in Longridge. I need to find out if they are accepted on the The Mortgage Works approved list of lawyers. Could you advise?
You should contact the lawyer and enquire if they are on the lender panel. Alternatively you should get in touch with The Mortgage Works who may be able to confirm.
How does conveyancing in Longridge differ for newly converted properties?
Most buyers of new build residence in Longridge come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Longridge tend to acquire the site, 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 conveyancers 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 Longridge 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 Longridge I like with open areas and transport links nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Longridge in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the shortness of the lease may be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension 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 lawyer regarding this matter.
We're new on the property ladder - had an offer accepted, yet the agent advised that the seller will only move forward if we use their preferred conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer used to conveyancing in Longridge
It is highly unlikely the vendors are driving this. Should the vendor desire ‘a quick sale', taking such a hostile approach to a serious purchaser is going to damage their objectives. Contact the owners directly and make the point that (a)you are serious buyers (b)you are ready to progress, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)however you intend to appoint your preferred Longridge conveyancing firm - not the ones that will earn the negotiator at the agency a kickback or meet his conveyancing thresholds pre-set by senior management.