We are buying a 3 bedroom apartment in Ludlow with a mortgage. We like our Ludlow conveyancer, but the mortgage company says she’s not on their "panel". It appears that we have no choice but to instruct one of the mortgage company panel solicitors or continue with our Ludlow property lawyer as well as pay for one of their panel lawyers to represent them. We consider that this is inequitable; are we not able to require that the bank use our Ludlow lawyer ?
Unfortunately,no. Your mortgage offer 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. A further alternative is for your Ludlow conveyancing lawyer to apply to be on the conveyancing panel.
We were just about to sign contracts for a property in Ludlow. We have hit a snag. The mortgage offer with Santander expires on 16/6/2025 but the owners are suggesting a completion date of 18/6/2025. Is it possible to prolong the loan offer?
The person best placed to address this concern is your conveyancer who should determine if they better off negotiating with the mortgage company, seller’s solicitors, selling agents or indeed all parties given the circumstances your conveyancing to date.
When will exchange of contracts occur in sale conveyancing in Ludlow and do I need to be at the conveyancers office?
Where you are near to our conveyancing solicitors in Ludlow you are welcome to come in to sign contracts. However, the firms we work with provide countrywide coverage for conveyancing and provide just as detailed and professional a job for you when dealing with you digitally. The signing of the property agreement is not the critical part. A signed contract is just a prerequisite for the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Ludlow)to be in the office at the appropriate time.
I have been told that property searches are a common reason for hinderance in Ludlow house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Ludlow.
Just had an offer accepted on a new build flat in Ludlow. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ludlow
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
In surfing the world wide web for the term cheap conveyancing in Ludlow it shows results of many conveyancerslocally. How do I determine which is the right property lawyer for purchase transaction?
The best method of seeking the right conveyancer is through a trusted recommendation, so seek the opinion of colleagues and those you trust who have purchased a property in Ludlow or the local estate agent or mortgage broker. Costs for conveyancing in Ludlow differ, so it's advisable to obtain at least three estimates from varying types of companies. Dont forget to clarify what costs in the quote includes.