My fiance and I are intent on purchasing a leasehold flat in Malvern. My property lawyer is not listed on the lender approved list. Is it possible for me to continue with my Malvern conveyancing solicitor notwithstanding that they are not on the lender list of approved lawyers?
Your options include
- Complete the deal with your chosen Malvern conveyancing practitioner but your mortgage company will undoubtedly use a property lawyer from their approved panel. This will result in additional cost and potential frustration.
- Choose a fresh conveyancing practitioner to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Appeal to your lawyer to seek to join the mortgage company panel
Can I use your services to locate a Conveyancing solicitor in Malvern even where I’m not purchasing or disposing of a house, for example if I want to acquire an office in Malvern with a mortgage from Birmingham Midshires?
The service is mainly there to help choose domestic conveyancing solicitors in Malvern but we have recorded at the bottom of this page a few Malvern commercial conveyancing firms. You will need to speak with the company directly to see if they are also authorised to represent Birmingham Midshires
We wanted to use a property lawyer in Malvern for our house move. Our financial adviser informed us that our mortgage company Halifax won't deal with them. Surely this is unfair competition?
A mortgage company can require an approved conveyancer act for it. Borrowers are liable to bear the cost of this. Try using our tool to get a quote from a solicitor to conduct conveyancing in Malvern on the Halifax member panel.
I purchased my flat on 11 October and my personal details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Malvern advises it will be recorded inside ten days. Are properties in Malvern uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Malvern registration formalities. Rather than based on location, timescales can adjust subject to who lodges the application, whether it is in order and if the Land registry communicate with any 3rd parties. At present in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be protracted delays. Registration is effected once the buyer has moved in to the premises therefore 'speed' is not always an essential issue but where there is a degree of urgency associated with the registration then you or your lawyers must contact the land registry and explain the circumstances.
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Malvern. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Malvern are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Malvern so you should seriously consider shopping around for a Malvern conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.
I invested in buying a leasehold flat in Malvern, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Malvern with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease ceases on 21st October 2085
With just 60 years unexpired the likely cost is going to range between £20,000 and £23,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
Me and my partner are purchasing a 2 bedroom housein Malvern with a residential mortgage from a lender. We have a conveyancer in Malvern however our mortgage company advise she’s not listed on their "panel". We have to appoint from the our mortgage company panel solicitors or stay with our Malvern solicitor and incur the extra costs for one of their panel ones to represent our mortgage company. We feel as though this is unjust; Can we not simply insist that our mortgage company use our Malvern lawyer?
Unfortunately,no. The lender home loan issued is subject to its terms and conditions, one of which will be that solicitors will on the lender's conveyancing panel. Until recently, most banks had open panels, including many conveyancing solicitors in Malvern : 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your mortgage company.