I have just been advised by my estate agent that my Lutterworth property lawyer is not on the mortgage company Solicitor panel. How can I be certain whether this is indeed the case?
The best course of action for you to take is to contact your Lutterworth conveyancer. You lawyer should advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
My solicitor has discovered a a problem with the lease for the property we are buying in Lutterworth. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. These conveyancing instructions have to be complied with.
How do I discover of the solicitor conducting my conveyancing in Lutterworth is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus paying £175.00 in further conveyancing bill.
Please do take advantage of the search tool on this site. Please choose the mortgage company and type ‘Lutterworth’ or your location and you will be presented with numerous solicitors based in Lutterworth or nearest you.
I have been told that property searches are the number one cause of delay in Lutterworth house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Lutterworth.
I am looking for a flat up to £195,000 and found one round the corner in Lutterworth I like with open areas and transport links nearby, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Lutterworth for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I need to retain a conveyancing solicitor for purchase conveyancing in Lutterworth. I happened to land on a site which seems to have the ideal solution If it is possible to get all formalities completed via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?