Me and my fiance are purchasing a 2 bedroom flat in Newtown with a mortgage. We would like to retain our Newtown solicitor, but the mortgage company advise she’s not on their "panel". It seems we have no choice but to instruct one of the bank panel solicitors or continue with our Newtown solicitor as well as pay for one of their panel ones to represent them. This feels very unfair; are we not able to require that the lender use our Newtown solicitor ?
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. A further alternative is for your Newtown conveyancing lawyer to apply to be on the conveyancing panel.
My partner and I are refinancing our apartment in Newtown with Kent Reliance. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of questions (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Kent Reliance. This is solely used to protect Kent Reliance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Kent Reliance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am planning to acquire a flat and need a conveyancing solicitor in Newtown who is on the Aldermore conveyancing. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Aldermore in certain locations such as Newtown. We dont recommend any particular firm.
is it true that all Newtown conveyancing solicitors on the Virgin Money conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Virgin Money conveyancing panel they would need to be governed by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
I have instructed a Newtown lawyer having checked that they are on the Principality conveyancing panel. Does my lawyer arrange the survey of the property?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Newtown postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Newtown.
I have finally had an offer on a flat in Newtown agreed to, but there is a chain. The owners have offered on a property, however it’s not been accepted yet, and are looking at other flats in the pipeline. I have chosen a high street conveyancing solicitor in Newtown. What do I do now? When should I get the mortgage application with UBS started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then survey, Newtown conveyancing search fees, etc). The first course of action is to ensure that your conveyancing practitioner is on the UBS approved list. Concerning the next steps this very much depends on the uniqueness of your transaction, attraction to the property and on the state of the market. In a buoyant market some buyers would apply for a home loan with UBS and arrange for the valuation and only if it comes back ok would they ask their lawyer to proceed with searches.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Newtown I like with open areas and station in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Newtown in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
What makes your site different to other web based conveyancing brokers when it comes to conveyancing in Newtown?
At this site get a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Newtown. Unlike many estate agents and many comparison sites we do not charge firms a fee if you instruct them for your conveyancing in Newtown