I can't travel far from Southport. I would like to know the logic why all Southport conveyancing practitioners are not on all bank panels?
Banks ordinarily impose restrictions on either the nature or volume of conveyancing solicitors on their approved list of lawyers. Frequent examples of such criteria being that a organisation needs to have at least two partners. In addition to restricting the type of firm, some lenders decided to restrict the number of practices they use to act for them. It is worth noting that mortgage companies have no liability for the quality of advice provided by any Southport conveyancing practitioner on their approved list. Increases in mortgage fraud was the primary trigger for the reduction of solicitor panels a few years ago notwithstanding that there are opposing views concerning whether solicitors sat at the center of that fraud. Statistics from HMLR exposes that thousands of law practices only transact a couple of conveyances annually. Those vindicating conveyancing panel cuts ask why law firms deserve claim to be listed on a lender panel when it is apparent that property law is not their primary expertise?
Is it correct that all Southport CQS (Conveyancing Quality Scheme) solicitors are on the Aldermore conveyancing list of approved solicitors?
A selection of lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Southport building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Southport conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they would not lend in accordance with their published requirements. Who do I believe?
As long as the property lawyer is on the mortgage company approved list, she or he must follow the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer agreed on a house in Southport. My mortgage broker recommended their conveyancers. I paid an on account payment of £225. A few days later, the conveyancing practitioner called me sheepishly admitting that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Southport differ for new build properties?
Most buyers of new build residence in Southport contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Southport typically buy 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 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 used to new build conveyancing in Southport or who has acted in the same development.
I am looking for a flat up to £245,000 and found one round the corner in Southport I like with open areas and railway links in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Southport suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may ask them to start the process of the extension 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 lawyer regarding this.
Am I better off to go with a Southport conveyancing practitioner based in the area that I am purchasing? We have a good friend who can carry out the legal work but they are based 200kilometers away.
The primary upside of using a high street Southport conveyancing practice is that you can visit the firm to sign documents, present your ID and pester them if necessary. Having local Southport know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and they were impressed that should surpass using an unfamiliar Southport conveyancing solicitor just because they are based in the area.
How do I identify value for money conveyancing in Southport?
Option 1 is to ask the people you trust who they used in the past and if they were happy with the service. Option 2 is to search the internet for conveyancing in Southport. Telephone a couple or more firms from the list and ask them to email you their conveyancing quote and speak to the lawyer who will conduct your conveyancing before you make your choice. Option 3 is to use our search tool to assist you in finding the right solicitors taking into account your unique requirements including location,speed, complexity and who your intended mortgage company is.Avoid the trap of appointing £99 conveyancing solicitors in Southport