My husband and I are planning to acquire a 2 bedroom apartment in Rainhill with a mortgage. We would like to retain our Rainhill conveyancer, however the bank advise she’s not on their "panel". It seems we have no option but to appoint one of the bank panel solicitors or retain our Rainhill solicitor as well as pay for one of their panel ones to act for them. This feels very unfair; are we not able to require that the mortgage company use our Rainhill conveyancer ?
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 Rainhill conveyancing lawyer to apply to be on the conveyancing panel.
We are purchasing a house and need a conveyancing solicitor in Rainhill who is on the Coventry BS approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Rainhill.
Are the BSA planning on creating a search tool with a view to to identify law firms on the Melton Mowbray Building Society conveyancing panel for instance in Rainhill?
Lexsure has not been advised of any intention on the part of the BSA to develop such a register.
I am buying a new build apartment in Rainhill. Conveyancing is daunting 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 are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Rainhill
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Rainhill I like with open areas and transport links in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Rainhill for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease may be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I was recommended by two or three local estate agents in Rainhill to select a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to market your site over and above a competitor’s?
We don’t offer any financial incentive for sending work our way. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.