We are purchasing a 1 bedroom flat in Mobberley with a mortgage. We like our Mobberley conveyancer, but the lender advise he's not on their "panel". It seems we have no choice but to select one of the bank panel conveyancing practices or continue with our Mobberley conveyancing practitioner and pay for one of their panel lawyers to represent them. We regard this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Mobberley conveyancing solicitor to apply to be on the conveyancing panel.
We see that you have a post code search directory listing firms on the HSBC conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Mobberley?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Mobberley.
My wife and I are purchasing a house in Mobberley. I might seem paranoid but how we can trust a lawyer? On completion day we will need to send our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
This question may be naive but I am unexperienced as a 1st time buyer of a two bedroom flat in Mobberley. Do I pick up the keys to the premises on the completion date from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Mobberley?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s conveyancers, and once they have received this, you should be called to pick up the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
It is not clear whether my lender requires a lease extension. I have called into my local Mobberley bank branch on numerous occasions and was told it wasn't an issue and they will lend. My Mobberley conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the property lawyer is on the mortgage company panel, she or he must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Me and my brother own a renovated Georgian house in Mobberley. Conveyancing solicitor acted for me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching property. Is it worth asking The Royal Bank of Scotland to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Mobberley and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with the conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Mobberley differ for newly converted properties?
Most buyers of new build premises in Mobberley approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Mobberley tend to buy the land, 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 Mobberley or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in Mobberley I like with a park and railway links in the vicinity, however it only has 49 years on the lease. There is not much else in Mobberley in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.