I plan on acquiring a ground floor flat in Henleaze. My Conveyancer is not on the bank approved panel. Can I still continue with my Henleaze conveyancing solicitor even though they are not on the lender list of approved lawyers?
One will need to have a lawyer to deal with the legal work required if you need a loan to purchase your home. They will carry out all the appropriate legal checks on the property, make sure that you will be properly registered as the owner and ensure that all the necessary mortgage documentation is in place. One may instruct a Henleaze property lawyer of your choice. Nevertheless, where the solicitor selected is not a member of the mortgage company approved list additional costs will arise as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so where your solicitor has not in the past applied for membership they should do so.
We wanted to use a conveyancing solicitor in Henleaze for our house purchase. Our broker informed us that our mortgage lenders Godiva Mortgages Ltd won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most banks had a different appetite for risk. Almost all Henleaze conveyancing firms would have been on most lender panels. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms relating to their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum number of transactions. Many Henleaze conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Henleaze is amongst the hundreds of areas where the conveyancers we recommend are on the panel for Godiva Mortgages Ltd.
How does conveyancing in Henleaze differ for newly converted properties?
Most buyers of new build property in Henleaze come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Henleaze tend to acquire the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Henleaze or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Henleaze is where the house is located. Is there any guidance you can impart?
Flying freeholds in Henleaze are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Henleaze you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Henleaze may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
How difficult is it to swap solicitor as I need to find one who is on the Bank of Ireland conveyancing list. I was using a local conveyancing solicitor in Henleaze round the corner but she is not approved by Bank of Ireland
It would be our pleasure to assist you find a conveyancing solicitor in Henleaze on the Bank of Ireland panel. Please note that the law firms that we list do not pay us fee if you instruct them and are under regulation of the SRA who regulate all conveyancing solicitors in Henleaze. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Henleaze.
Our offer on house in Henleaze has been agreed to, the vendor does however have a dependent purchase. The current proprietors have submitted an offer on on an apartment, although it’s not yet agreed to, and are looking at other properties in the pipeline. I have instructed a local conveyancing solicitor in Henleaze. What do I do now? At what point do I apply for the mortgage with Barclays?
It is usual to have concerns where there is an associated chain as you are unlikely to want to incur expenses prematurely (home loan application is approx one thousand pounds, then survey, Henleaze conveyancing search costs, etc). The first thing to do is check that your conveyancing practitioner is on the Barclays approved list. Concerning the subsequent phase this very much dictated by the circumstances of your case, desire for this property and on the state of the market. In a hot market the majority of buyers would apply for the mortgage with Barclays and arrange for the valuation and only if it comes back ok would they ask their conveyancer to proceed with the conveyancing in Henleaze.