We are purchasing a 2 bedroom apartment in Chippenham with a mortgage. We would like to retain our Chippenham lawyer, however the bank says she’s not on their "panel". We have to appoint one of the mortgage company panel firms or retain our Chippenham property lawyer as well as pay for one of their panel firms to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Chippenham conveyancing solicitor to apply to be on the conveyancing panel.
I have been recommended a conveyancing solicitor in Chippenham. I I would like to check whether they are on the Alliance & Leicester approved list of lawyers. Could you assist?
You should call the conveyancer and enquire if they can act for the bank. Alternatively please call Alliance & Leicester who may be able to assist.
We are getting a further advance on our home loan from Leeds Building Society as we intend to carry out alterations to our house in Chippenham. Do we need to select a nearby Chippenham solicitor on the Leeds Building Society conveyancing panel to handle the paperwork?
Leeds Building Society don't usually appoint a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
I had a mortgage agreed in principle with TSB. Chippenham conveyancing practitioners were instructed. What is the average time that one could expect to receive a mortgage offer from TSB?
There is no definitive answer here. Have TSB done the valuation? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I was told four weeks ago that my mortgage has been agreed to by Yorkshire BS. Is it usual for Yorkshire BS to only issue the offer once my solicitor in Chippenham is approved on their conveyancing panel? Yorkshire BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am 17 days into a freehold purchase having been directed to a firm by the estate agent to handle our conveyancing in Chippenham. We are not happy. Can you help me find new lawyers?
They would need to be really bad to suggest diss instructing them. Has the mortgage offer been sent? If so you need to inform them of the new solicitor and ensure the loan are re-sent. Your solicitor ideally should be on the lenders approved list to avoid supplemental charges and complications. That should be your first question of the new solicitors. Our search tool can help you find a lender approved solicitor for your conveyancing in Chippenham
Can you provide any advice for leasehold conveyancing in Chippenham from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Chippenham can be reduced where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers’ representatives. Many landlords or Management Companies in Chippenham charge for supplying management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Chippenham. In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Chippenham leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the consents in place you should not contact the landlord without checking with your lawyer before hand. If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Organising a re-issued share certificate is often a lengthy formality and frustrates many a Chippenham conveyancing transaction. If a new share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later. If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled.
I am the registered owner of a 1st floor flat in Chippenham, conveyancing having been completed in 2005. Can you work out an approximate cost of a lease extension? Similar flats in Chippenham with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ends on 21st October 2086
With just 61 years left to run we estimate the price of your lease extension to be between £18,100 and £20,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
New build sellers have put forward a conveyancing practitioner and I've received an estimate from them. They are almost three hundred pounds less expensive than my preferred Chippenham conveyancer. What's the catch?
Builders normally have panels of conveyancing practitioners who expedite matters and who know the seller’s paperwork and lawyer. As many developers offer an incentive to use their approved property lawyer for this reason, any increased fees can be avoided and a developer will not put forward a conveyancing warehouse and run the risk of having the conveyancing stall when they need an exchange within a tight deadline. The argument for not opting for the recommended solicitor is that they may prove reluctant to fight for your interests at the risk of alienating the developer. Where you have concerns that this may be the case you should remain with your local Chippenham conveyancer.