My husband and I are hoping to purchase a property in Burford and are in fact using a Burford conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Godiva Mortgages Ltd have this morning contacted us to advise us that they have now hit a problem as our Burford conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Burford lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We are buying a newly built duplex in Burford and my conveyancer is advising me that she has to the lender to reveal incentives from the seller. I am on a tight deadline to exchange contracts and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am looking to buy a flat and need a conveyancing solicitor in Burford who is on the Nottingham Building Society conveyancing. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nottingham Building Society in certain locations such as Burford. We dont recommend any particular firm.
What can a local search inform me concerning the property we're purchasing in Burford?
Burford conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search is essential in every Burford conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one round the corner in Burford I like with a park and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Burford in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease will likely be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
My step-father has recommend that I instruct his lawyers for conveyancing in Burford. Do I take his recommendation?
Much as we are happy to recommend a Burford conveyancing lawyer it’s preferable to find a conveyancing solicitor is to seek referrals from friends or family who have actually experience in using the conveyancer that you are considering.