My mortgage broker has requested my Elephant and Castle law firm’s panel reference for the HSBC conveyancing panel. Can you suggest how I discover this. I have contacted my local Elephant and Castle office but they have not responded to me.
Have you tried calling your Elephant and Castle property lawyer about this?. They maintain a central record lender panel numbers.
Would the conveyancing lawyers to be found on your site carry out auction conveyancing in Elephant and Castle?
We know of a number of niche practitioners we can connect you with those who can conduct auction conveyancing. Elephant and Castle is just one of our locations where our lawyers cover.
My husband and I have organised a further advance on our home loan from Virgin Money as we intend to conduct renovations to our property in Elephant and Castle. Are we obliged to select a bricks and mortar Elephant and Castle solicitor on the Virgin Money conveyancing panel to deal with the paperwork?
Virgin Money would not normally instruct a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money panel.
I had a mortgage agreed in principle with Principality. Elephant and Castle conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality done the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We were going to get a OIP from Barclays this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Barclays recommend any Elephant and Castle solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Elephant and Castle solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
How does conveyancing in Elephant and Castle differ for newly converted properties?
Most buyers of new build or newly converted property in Elephant and Castle come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Elephant and Castle typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Elephant and Castle or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £195,000 and identified one close by in Elephant and Castle I like with amenity areas and railway links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Elephant and Castle for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I'm converting the mortgage on my current house to a buy to let mortgage with Nottingham Building Society and I will use the ballance of the raised equity as a down payment on further property. The area we are talking about is Elephant and Castle. Will your solicitors be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this site to be sure that the solicitors are on the appropriate lender panels. Assuming that they are your conveyancer should be able to simultaneously deal with the two deals but you should have a chat with you solicitor and make clear your desired outcome and requirements.