I am buying residence in Prestwich. My Conveyancer is not listed on the lender solicitor list. Can I still use my Prestwich conveyancing solicitor notwithstanding that they are excluded from the lender panel?
Your options include
- Carry on with your existing Prestwich lawyer but your lender will no doubt retain a conveyancing practitioner from their approved list. The net result is additional fees and potential delay.
- Appoint a new conveyancing practitioner to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Convince your conveyancer to pull out all the stops to get accepted on the mortgage company conveyancing panel
My wife and I are buying a brand new duplex in Prestwich and my solicitor is informing me that she is duty bound to the mortgage company to reveal incentives from the developer. I am under pressure to exchange and I don't want to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have todayfound out that Stirling Law have been shut down. They carried out my conveyancing in Prestwich for a purchase of a freehold house 12 months ago. How can I check that the property is in my name in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Prestwich conveyancing specialists.
We are four weeks into a leasehold purchase having been recommend to a firm by the estate agent to perform conveyancing in Prestwich. I am am extremely disappointed with the quality of service. Can you help me find new conveyancers?
They would need to be very bad in order to consider changing them. Has the mortgage offer been generated? In the event that it has you will need to make them aware of the new contact details and ensure the offer are re-issued. Your new conveyancer needs to be on the banks approved list to avoid supplemental fees and delays. So that should be your first question of the new solicitors. Our search tool will assist you in finding a lender approved solicitor for your conveyancing in Prestwich
What are the frequently found problems that you come across in leases for Prestwich properties?
Leasehold conveyancing in Prestwich is not unique. All leases are individual 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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A provision to repair to or maintain elements of the premises A provision for the recovery of money spent for the benefit of another party.
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.
I inherited a leasehold flat in Prestwich, conveyancing having been completed in 2012. Can you work out an approximate cost of a lease extension? Similar properties in Prestwich with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2098
With only 73 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the lender conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.