Me and my fiance are hoping to acquire a 3 bedroom apartment in Broadway with a mortgage. We wish to retain our Broadway lawyer, however the lender advise he's not on their "panel". It appears that we have little option but to select one of the bank panel conveyancing practices or retain our Broadway solicitor as well as pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. 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 Broadway conveyancing solicitor to apply to be on the conveyancing panel.
Completed the sale of my flat in Broadway last June but the buyer keeps whats apping me to say her lawyer is waiting to hear from myconveyancer. What are the post completion sale formalities now that I have sold?
Post completion of your disposal your conveyancer should forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Where appropriate, your lawyer must also confirm that the mortgage has been repaid to the buyers lawyers. There are no post completion requirements just for conveyancing in Broadway.
My friend advised me that where I am buying in Broadway I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Broadway conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Broadway around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Broadway Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Broadway Education with plans and statistics, Local Amenities and other useful data regarding Broadway.
I decided to have a survey completed on a house in Broadway prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some lenders may not issue a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Broadway. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to go with a Broadway conveyancing practitioner who is local to the property I am hoping to buy? I have an old university friend who can deal with the conveyancing however her office is approximately 350miles drive away.
The primary upside of using a local Broadway conveyancing practice is that you can drop in to sign paperwork, deliver your ID and apply pressure on them if necessary. Having local Broadway know how is a benefit. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and in the main were content that must outweigh using an unknown Broadway conveyancing solicitor solely due to them being Broadway based.
My wife and I plan to acquire our first property in Broadway. Conveyancing practitioner already appointed. The broker advised that a survey is not appropriate as the property is only 20 yrs old.
At the very least you should order a Home Buyer's Report. Given the property was constructed over a decade ago the property will be without a warranty, so you don't want to take a risk. For a property that age with no signs of problems a Home Buyer's report could be enough. They will highlight any obvious issues and recommend additional investigation where relevant. Where there are any signs of material issues seek a full structural survey.