My husband and I are intending to purchase a 1 bedroom flat in Ulverston with a mortgage. We wish to retain our Ulverston solicitor, but the bank advise he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Ulverston solicitor and pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Ulverston conveyancing solicitor to apply to be on the conveyancing panel.
What is the first thing I need to know regarding purchase conveyancing in Ulverston?
Not many law firms shout this from the rooftops but conveyancing in Ulverston or throughout Cumbria is an adversarial process. Put another way, when it comes to conveyancing there exists an abundance of room for friction between you and others involved in the legal transfer of property. E.g., the seller, estate agent and on occasion a mortgage company. Selecting a law firm for your conveyancing in Ulverston an important selection as your conveyancer is your adviser, and is the ONE party in the transaction whose interest is to look after your best interests and to protect you.
We are witnessing a worrying creep of a "blame" culture- someone must be at fault for the process taking so long. You should always trust your lawyer ahead of the other players when it comes to the legal transfer of property.
How does conveyancing in Ulverston differ for newly converted properties?
Most buyers of new build residence in Ulverston contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Ulverston tend to 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 conveyancing solicitors 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 Ulverston or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one round the corner in Ulverston I like with a park and transport links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Ulverston in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I am a sole trader intending to lease a unit on the high street. Can you recommend lawyers offering no-sale-no costs for commercial conveyancing in Ulverston for under £1,200?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Ulverston, including the sale and purchase of businesses as well as simply premises. If you are intending to buy or lease a shop, pub, restaurant, office, retail unit or a complete business we will find you the right lawyer. Regarding the fees this will depend on the structure and terms of the proposed transaction. Please provide us with your contact information or phone so as to enable us to furnish you with a fixed commercial conveyancing quote.
My lender have just issued us with a mortgage offer. We are using a high street conveyancer in Ulverston last week. Today, our broker phoned to advise us that the bank said that we cannot use our solicitor as they aren't on their panel. As FTB's, we had no idea that the mortgage company had a say Is this usual?
You are permitted to instruct any property lawyer you prefer to use including the said conveyancer in Ulverston nevertheless if they are not on the your lender's approved list you must incur an extra fee so the bank can instruct their own lawyers. sometimes it is conceivable that your solicitor may apply to get included on to the mortgage company panel. Do make the most of online tools such as lenderpanel.com to find a conveyancing solcitor in Ulverston on the bank panel. You can go into your local lender branch in Ulverston. They can recommend conveyancing solicitors in Ulverston on the lender panel.