I can't travel far from Markfield. Is there a reason why all Markfield conveyancing practitioners are not on all mortgage company panels?
Banks normally restrict either the type or volume of conveyancing practices on their approved list of lawyers. A common example of such criteria being that a practice needs to have two or more partners. As well as restricting the type of firm, some have decided to reduce the number of conveyancers they use to represent them. It is worth noting that mortgage companies have no liability for the accuracy of advice supplied by any Markfield conveyancing practitioner on their panel. Mortgage fraud was the key driver in the culling of solicitor panels a few years ago notwithstanding that there are conflicting views concerning the extent of solicitor involvement in some of that fraud. Statistics via HMLR reveal that thousands of conveyancing practices only conduct a couple of conveyances annually. Those advocating conveyancing panel culls ask why law firms should have claim to remain on a lender panel when clearly conveyancing is not their primary expertise?
Our son is purchasing a new build apartment in Markfield with a mortgage from TSB. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the TSB conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am purchasing a end of terrace house in Markfield. The intention is to carry out an extension to the side at the house.Will legal due diligence on the property involve investigations to ascertain if these alterations were previously refused?
Your solicitor will check the deeds as conveyancing in Markfield can occasionally reveal restrictions in the title deeds which prevent certain works or need the permission of another owner. Some additions need local authority planning consent and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
My wife and I have arranged a further advance on our mortgage from Bank of Ireland as we want to conduct improvements to our house in Markfield. Do we need to choose a nearby Markfield solicitor on the Bank of Ireland conveyancing panel to deal with the legals?
Bank of Ireland do not ordinarily instruct a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland conveyancing panel.
I have finally had an offer on an apartment in Markfield accepted, the owners do nevertheless have an associated purchase. The owners have offered on somewhere, however it’s not yet tied up, and are looking at other apartments in the pipeline. I have chosen a local conveyancing solicitor in Markfield. What should be my next step? At what point should I apply for the mortgage with HSBC?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then valuation, Markfield conveyancing search costs, etc). First, you must check that your property lawyer is on the HSBC approved list. As to the subsequent phase this very much dictated by the uniqueness of your case, motivation for this property and on the state of the market. During a rising market many home buyers would apply for the mortgage with HSBC and pay for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to proceed with searches.
I have been on the look out for a flat up to £305k and identified one near me in Markfield I like with a park and station nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Markfield for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
Are there any apps to help identify a Markfield solicitor on the Barclays conveyancing panel? I drive a motor bike and am willing to travel upto 25miles to meet the solicitor.
Feel free to make use of the tool on this website. Please pick a lender and your location and you will see a number of Markfield conveyancing lawyers locally. We have detailed some Markfield conveyancing firms towards the end of this page and you can ring them to check if they are on the Barclays approved list
Is it best to use a Markfield conveyancing lawyer in close proximity to the house I am buying? I have an old university friend who can execute the legal work however her office is 300kilometers away.
The primary upside of using a local Markfield conveyancing practice is that you can drop in to sign documents, hand in your identification documents and apply pressure on them where appropriate. They will also have local insight which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and they were content that should surpass using an unfamiliar Markfield conveyancing lawyer just because they are local.