Unfortunately I am unable to travel far from Whitwick. What is the rationale as to why all Whitwick solicitors are not on all lender panels?
As inequitable as it may seem for banks to limit who can represent them, from the public’s or solicitor’s perspective, the the contrary view is that lending institutions are becoming ever more anxious and feel it crucial to defend themselves from mortgage fraud. As a result of this concern lenders are limiting their panel of approved conveyancing lawyers to a size that they are happy to control.
In what way does my ID and proof of funds have anything to do with my conveyancing in Whitwick? Is this really necessary?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms of Engagement that you are required to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. Where you refuse to supply identification documents, your conveyancer can not take you on as a client.
I am considering applying for a Co-operative mortgage for purchase of a new build (under development) in Whitwick with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Co-operative ?
There is nothing to stop you using your solicitor, but Co-operative will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
How does conveyancing in Whitwick differ for new build properties?
Most buyers of new build residence in Whitwick contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Whitwick 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 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 accustomed to new build conveyancing in Whitwick or who has acted in the same development.
I decided to have a survey completed on a property in Whitwick before retaining solicitors. I have been informed that there is a flying freehold element to the house. My surveyor advised that some banks will not give a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Whitwick. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to appoint a conveyancing solicitor for some conveyancing in Whitwick. I happened to stumble across a web site which seems to have the ideal solution If it is possible to get all the legals done via phone that would be preferable. Should I be wary? What should out be looking out for?
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?