We are hoping to buy a 1 bedroom flat in Nantwich with a mortgage. We like our Nantwich lawyer, but the mortgage company says she’s not on their "panel". We have to appoint one of the bank panel solicitors or continue with our Nantwich property lawyer as well as pay for one of their panel firms to act for them. We consider that this is unjust; can we not insist that the mortgage company use our Nantwich conveyancing practitioner ?
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 lender’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 lawyer to apply to be on the conveyancing panel.
Our mortgage company has recommended a law firm on their panel based in Nantwich but I would rather instruct a conveyancing lawyer in Nantwich local to me. Are you able to assist?
Far from all Nantwich conveyancing firms are listed all banks conveyancing panel. Use the above find an approved solicitor tool to choose a Nantwich conveyancing solicitor on the on the mortgage company panel.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Nantwich is the location of the property. Is there any guidance you can give?
Flying freeholds in Nantwich are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Nantwich you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Nantwich may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I be wary by estate agents that I am dealing with are recommending a nationwide conveyancing firm rather than a local Nantwich conveyancing firm?
As with lots of professional services, often suggestions from connections can be worth their weight in gold. Yet there are lots of parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest lawyers to retain. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there exists a financial incentive behind the recommendation. You have the right to choose your own lawyer. Don't forget that many lenders specify a panel list of lawyers you are obliged to use for the mortgage aspect of your conveyancing.
My husband and I are one month into a leasehold purchase having been referred to a firm by the high street agent to perform conveyancing in Nantwich. I am am starting to be disappointed with the level of service. Can you help me find new conveyancers?
They would have to be really poor in order to consider replacing them. Has your loan offer been generated? In the event that it has you need to advise them of the new contact details and have the loan are re-issued. The conveyancer needs to be on the lenders panel to avoid supplemental charges and frustration. So that should be your starting point. The find a solicitor tool can help you find a bank approved solicitor for your home move in Nantwich
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Nantwich. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Nantwich are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Nantwich so you should seriously consider shopping around for a Nantwich conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.
I inherited a studio flat in Nantwich, conveyancing formalities finalised 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Nantwich with an extended lease are worth £202,000. The ground rent is £60 levied per year. The lease finishes on 21st October 2082
With just 57 years remaining on your lease the likely cost is going to span between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.