We are intending to buy a 1 bedroom apartment in Castle Bromwich with a mortgage. We wish to retain our Castle Bromwich conveyancer, but the bank says she’s not on their "panel". It seems we have no choice but to instruct one of the mortgage company panel solicitors or keep our Castle Bromwich conveyancing practitioner and pay for one of their panel firms to represent them. This feels 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 Castle Bromwich conveyancing solicitor to apply to be on the conveyancing panel.
Can I use your services to recommend a Conveyancing solicitor in Castle Bromwich even if I’m not buying or disposing of a house, for example if I intend to acquire a shop in Castle Bromwich with a mortgage from Bank of Ireland?
Our comparison service is mainly used to select domestic conveyancing solicitors in Castle Bromwich but we have recorded at the end of this page some Castle Bromwich commercial conveyancing firms. You will need to speak with the firm directly to establish if they can also act for Bank of Ireland
I am considering applying for a Nottingham mortgage for purchase of a new build (under development) in Castle Bromwich with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Nottingham ?
In theory, you could use a solicitor that is not on the Nottingham conveyancing panel, but Nottingham would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
What can a local search tell me concerning the property I am purchasing in Castle Bromwich?
Castle Bromwich conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for instance Onsearch The local search is essential in every Castle Bromwich conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications applicable 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 13 topic areas.
I have been pointed in your direction by numerous property agents in Castle Bromwich to choose a property lawyer on your site. What’s the financial inducement for Estate Agents to market your services over a competitor’s?
We refuse to offer any commission for sending work in our direction. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
What makes a Castle Bromwich lease defective?
Leasehold conveyancing in Castle Bromwich is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
I purchased a ground floor flat in Castle Bromwich, conveyancing having been completed in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Castle Bromwich with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2099
With 74 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.