I plan on purchasing a leasehold flat in Cranford. My Conveyancer has never been on on the mortgage company approved panel. Can I still continue with my Cranford conveyancing solicitor even though they are excluded from the bank panel of approved conveyancing solicitors?
One will need to have a lawyer to complete the formalities when you take out a loan to buy your home. The property lawyer will carry out all the necessary due diligence on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage documentation is dealt with. You could select a Cranford conveyancing practitioner of your choosing. However, where the solicitor selected is not on the lender conveyancing panel additional charges will be incurred as separate legal representation will be required by them. Bank panel applications can be submitted, so provided your lawyer has not in the past sought membership they should take the chance to apply.
AssumingI was to buy a freehold propertyin Cranford mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Cranford?
The only reduction in fees you would make on is the Cranford conveyancing searches. The conveyancing practitioner is obliged to do the vast majority of work - money laundering, communicating with your sellers conveyancer, SDLT submission, register the ownership etc. A marginal saving might be made by not having to register a charge however it will not be a lot.
Please explain the implications if my lawyer’s firm is suspended from the Nottingham Solicitor panel ahead of completing my conveyancing in Cranford?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am intent on selling our home in Cranford and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local lawyer would know this is not the case. For the life of me I don't know why the purchasers are using a nationwide conveyancing firm as opposed to a conveyancing solicitor in Cranford. We have lived in Cranford for many years we know that this is a non issue. Should we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Cranford I like with amenity areas and railway links nearby, however it only has 61 remaining years left on the lease. There is not much else in Cranford for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I have been recommended by a number of property agents in Cranford to select a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to promote your site ahead of a competitor’s?
We refuse to give any financial incentive for sending work to this site. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.