Me and my partner are buying a 3 bedroom apartment in Nantwich with a mortgage. We have a Nantwich lawyer, but the lender says he's not on their "panel". It appears that we have little option but to select one of the mortgage company panel solicitors or continue with our Nantwich conveyancer as well as pay for one of their panel firms to act for them. This seems very unfair; can we not require that the mortgage company use our Nantwich property lawyer ?
No, not really. The mortgage offered to you 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 Nantwich conveyancing solicitor to apply to be on the conveyancing panel.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would prefer to use a high street conveyancing solicitor in Nantwich?
You should check but the chances are that allocate you one of their panel lawyers if you take up the "fee-free" incentive. Contact the lender and check if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Nantwich.
My wife and I are spending time looking at houses in Nantwich and I am now considering a potential offer. Should I already have a conveyancer in place at this point? I am planning to take a mortgage with HSBC.
It would be advisable to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are taking out a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Nantwich property lawyer on the Lloyds panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
I had an offer accepted on a property in Nantwich on 16/12/2024, valuation was booked 3 days later, received a clean bill of health. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to HSBC and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the HSBC conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
Just had an offer accepted on a new build flat in Nantwich. 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Nantwich
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I am looking into buying my first house which is in Nantwich and I am already nervous. I couldn't find anything specific about Nantwich. Conveyancing will be needed in due course but do you know about the Nantwich area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Nantwich. In the meantime here are some basic statistics that we found
When it comes to leasehold conveyancing in Nantwich what are the most frequent lease defects?
Leasehold conveyancing in Nantwich is not unique. Most leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall A provision for the recovery of money spent for the benefit of another party.
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I am the registered owner of a studio flat in Nantwich, conveyancing was carried out 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Nantwich with an extended lease are worth £260,000. The ground rent is £50 yearly. The lease expires on 21st October 2100
You have 75 years remaining on your lease the likely cost is going to span between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.