we are a couple who wish to acquire a purpose built apartment in Towcester with a loan from HSBC Bank.We use our Towcester conveyancing lawyer but HSBC Bank advised that his firm is not on their "panel". we are left little option but to use a HSBC Bank panel firm or keep our preferred solicitor and pay for a HSBC Bank panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that HSBC Bank use our lawyer?
Unfortunately,no. The loan issued to you is subject to its terms and conditions, a common one being that lawyers must be on the HSBC Bank approved list. Until recently, most mortgage companies had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for HSBC Bank
How does conveyancing in Towcester differ for newly converted properties?
Most buyers of new build residence in Towcester approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Towcester typically purchase 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 Towcester or who has acted in the same development.
Is it possible to swap conveyancer as I need to choose a firm on the Coventry Building Society conveyancing panel. I had appointed a local conveyancing solicitor in Towcester five minutes from me but the firm is not approved by Coventry Building Society
We will our best to assist in finding you a conveyancing solicitor in Towcester on the Coventry Building Society panel. Please note that the law firms that we list do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Towcester. In making use of the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Towcester.
My father-in-law has suggested that I instruct his lawyers for conveyancing in Towcester. Should I choose my own property lawyer?
Much as we are happy to recommend a Towcester conveyancing lawyer the best way to choose a conveyancing practitioner is to seek referrals from friends or family who have used the firm that you are are thinking of instructing.
I am in need of some leasehold conveyancing in Towcester. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Towcester - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a 2 bed flat in Towcester, conveyancing was carried out January 2009. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Towcester with an extended lease are worth £197,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2080
You have 55 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
Please can you clarify what my options are where my Towcester conveyancing searches shows adverse results?
Usually, the majority of issues that arise in Towcester conveyancing search responses can be handled prior to completion or title insurance can be put on cover. You need to remember that even though you are acquiring the premises and might be content to accept the search results, your mortgage lender may not, and when all said and done they have the final say.