Is the fact that my conveyancer in Thurmaston is not on my lender's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
That is most likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Thurmaston conveyancing firm and enquire why they are no longer on the approved list for your bank.
We are planning to buy with Melton Mowbray Building Society. We have called around locally yet cant to find a Thurmaston conveyancing firm on the Melton Mowbray Building Society approved list. Can you help?
Please do make use of the find a conveyancing panel solicitor tool on this page. Please choose the building society and type Thurmaston or your location and you will see a number of lawyer located in Thurmaston or near you.
I am looking for a flat up to £305k and found one close by in Thurmaston I like with a park and railway links nearby, however it's only got 52 years on the lease. There is not much else in Thurmaston in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
Am I right to be suspicious about brokers that I am dealing with are encouraging me to use a national conveyancing firm rather than a High Street Thurmaston conveyancing company?
As with lots of service providers, often recommendations from family and friends can be very helpful. But there are lots of players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may put forward solicitors to instruct. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the endorsement. You have the discretion to select your own lawyer. However, bear in mind that some mortgage providers operate an approved list of conveyancers you are obliged to use for the lender related work in your conveyancing.
We're novice buyers - had an offer accepted, yet the property agent informed us that the vendor will only go ahead if we instruct their preferred conveyancers as they want a ‘quick sale’. We would rather use a high street conveyancer who is accustomed to conveyancing in Thurmaston
It is unlikely the vendors are behind this. If they want ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Speak to the owners direct and make the point that (a)you are serious buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you intend to appoint your own,trusted Thurmaston conveyancing firm - rather thanthose that will provide the negotiator at the agency a kickback or achieve conveyancing targets set by head office.
I dont have enough spare money to pay a 10% deposit on my flat purchase in Thurmaston , but I am keen proceed. What can I do?
You can agree a lesser deposit. Most sellers will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second