My husband and I are purchasing a 2 bedroom apartment in Maulden with a mortgage. We like our Maulden solicitor, however the mortgage company advise she’s not on their "panel". It seems we have little choice but to select one of the lender panel firms or retain our Maulden property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to insist that the lender use our Maulden lawyer ?
No, not really. 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 Maulden conveyancing solicitor to apply to be on the conveyancing panel.
After reading moneysavingexpert.com for a cheap lawyer in Maulden, most say that I should instruct a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in buying or selling property, trusted by some of the UK's leading lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. CQS is not a scheme offered by the Society for Licensed Conveyancers. Maulden is one of the numerous areas of the UK where there are Accredited solicitors.
I have decided to exercise my right to buy my property in Maulden off the council. I have a mortgage offer with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
I currently have a mortgage with Aldermore for my property in Maulden. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
You must advise Aldermore in advance of renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. It may be that Aldermore will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel firm.
Planning on purchasing a apartment in Maulden. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Maulden conveyancing practitioner is on the Barclays conveyancing panel.
How does conveyancing in Maulden differ for new build properties?
Most buyers of new build property in Maulden approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Maulden usually acquire 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 property lawyers 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 Maulden or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Maulden before instructing lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some lenders will refuse to issue a loan on this type of house.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Maulden. Conveyancing may be slightly more expensive based on your lender's requirements.
We're new on the property ladder - agreed a price, yet the selling agent advised that the owners will only issue a contract if we use their chosen solicitors as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Maulden
We suspect that the owner is unaware of this request. Should the owner want ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are serious purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you intend to use your preferred Maulden conveyancing solicitors - not the ones that will provide their estate agent a referral fee or hit his conveyancing targets pre-set by senior management.