My husband and I are buying a 1 bedroom flat in Neston with a mortgage. We have a Neston solicitor, however the bank says she’s not on their "panel". It seems we have no choice but to instruct one of the lender panel solicitors or retain our Neston conveyancer and pay for one of their panel ones to act for them. We regard this is inequitable; is there anything we can do?
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. Another option that might be available is for your Neston conveyancing solicitor to apply to be on the conveyancing panel.
Our lawyer has identified a a problem with the lease for the flat we are purchasing in Neston. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the lender are the client. These conveyancing instructions have to be complied with.
I am purchasing a semi-detached house in Neston. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Neston you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Neston.
The deeds to our house can not be found. The conveyancers who did the conveyancing in Neston 10 years ago are no longer around. Will I be able to sell the house?
Gone are the days when you need to have the physical official documentation to prove you are the registered proprietor of land or property, given that the Land Registry have everything they need in a digital format.
I am 17 days into a leasehold purchase having been directed to a firm by the selling agent to execute conveyancing in Neston. I am am starting to be dissatisfied with the quality of service. Can you help me find new solicitors?
They would need to be really bad to suggest replacing them. Has the mortgage been generated? In the event that it has you will need to make them aware of the new contact details and ensure the loan are issued to the new lawyers. The solicitor ideally should be on the mortgage company panel to avoid supplemental expenses and frustration. That should be your starting point. Our find a solicitor tool can assist you in finding a bank approved conveyancer for your conveyancing in Neston
Can you offer any advice when it comes to appointing a Neston conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Neston conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Neston conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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If the firm is not ALEP accredited then why not?
I inherited a leasehold flat in Neston, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Neston with a long lease are worth £260,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2099
With 74 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.