We were going to get a DIP from Virgin Money this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Pendlebury solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Pendlebury solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Pendlebury building society branch on numerous occasions and was informed it wasn't an issue and they would lend. My Pendlebury conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I simply don't know who is right.
Your lawyer has to follow the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Intending to buy a house in Pendlebury. 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 Kent Reliance 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 Pendlebury conveyancing practitioner is on the Kent Reliance conveyancing panel.
Should our lawyer be raising enquiries about flooding as part of the conveyancing in Pendlebury.
Flooding is a growing risk for lawyers dealing with homes in Pendlebury. Some people will acquire a property in Pendlebury, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a number of searches that can be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Pendlebury. The standard information supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the seller to find out if the premises has ever been flooded. In the event that flooding has previously occurred which is not notified by the seller, then a purchaser may issue a claim for damages resulting from an incorrect response. The buyer’s lawyers may also order an environmental report. This should reveal if there is a recorded flood risk. If so, further investigations will need to be initiated.
My wife and I purchased a renovated Edwardian house in Pendlebury. Conveyancing solicitor acted for me and National Westminster Bank. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. Is it worth asking National Westminster Bank to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pendlebury and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing solicitor who conducted the purchase.
How does conveyancing in Pendlebury differ for newly converted properties?
Most buyers of new build property in Pendlebury contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because house builders in Pendlebury usually purchase the real estate, 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 used to new build conveyancing in Pendlebury or who has acted in the same development.
I need to find a conveyancing solicitor for leasehold conveyancing in Pendlebury. I've chance upon a site which looks to be the ideal offering If there is a chance to get all the legals done via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am buying a property and require a conveyancing solicitor in Pendlebury who is on the lender solicitor panel. Can you recommend a Pendlebury or local Pendlebury conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who carry out conveyancing in Pendlebury. We dont recommend any particular conveyancing practice.