I plan on acquiring residence in Banstead. My lawyer is not on the mortgage company solicitor list. Is it possible for me to appoint my Banstead conveyancing solicitor notwithstanding that they are not on the bank approved list?
Your options include
- Complete the deal with your preferred Banstead property lawyer but your mortgage company will undoubtedly instruct a property lawyer from their approved list. The net result is additional charges and probable frustration.
- Appoint a fresh property lawyer to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Appeal to your property lawyer to seek to join the lender panel
Can the conveyancing lawyers that you recommend handle right to buy conveyancing in Banstead?
We have identified a number of conveyancing conveyancers carrying out right to buy transactions Please e-mail us to obtain a conveyancing quote.
A relative informed me that in buying a property in Banstead there could be various restrictions prohibiting external alterations to the property. Is this right?
We are aware of anumerous of properties in Banstead which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Banstead should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm the single beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Banstead. Conveyancing formalities meant that the Land Registry date was in January. I want to move. I do know about the CML six month 'rule', meaning my property ownership may be considered the same way as if I'd bought the house in January. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How practical a view banks take of it, depend on the lender as this requirement primarily exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
When it comes to lenders such as Principality, do Banstead lawyers have to pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
What does commercial conveyancing in Banstead cover?
Banstead conveyancing for business premises incorporates a broad array of services, provided by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
My husband and I are new on the property ladder - agreed a price, yet the selling agent advised that the seller will only move forward if we instruct the agent's chosen lawyers as they want an ‘expedited deal’. We would rather use a high street solicitor who is accustomed to conveyancing in Banstead
We suspect that the seller is unaware of this requirement. Should the seller desire ‘a quick sale', turning down a genuine buyer is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you will continue to appoint your preferred Banstead conveyancing lawyers - not the ones that will give the estate agent a referral fee or hit his conveyancing thresholds set by HQ.
Why do Banstead conveyancing charges differ for leasehold and freehold properties?
Inevitably there is more work involved in leasehold conveyancing. Banstead has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.