Unfortunately I am unable to travel far from Roade. I would like to know the reason why all Roade conveyancers are not on all lender panels?
Before the recession most mortgage companies had an attitude to risk which is different from today. The FSA in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancers on your panel. As a result, lenders have since looked to extract more information from law firms about their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the criteria of amount of transactions the lenders insisted on.
We were just about to exchange contracts for a garden flat in Roade. We have hit a snag. Our mortgage offer with Bank of Scotland expires on 23/3/2026 but the vendors are insisting on a completion date of 25/3/2026. Can one extend the loan expiry date?
The best person to address this question is your solicitors who is in a position to assess if they better off negotiating with the mortgage broker, seller’s lawyers, estate agents or indeed all parties based on the circumstances your transaction as of today.
Are the BSA intent on creating a searchable register to list solicitors on the Earl Shilton BS conveyancing panel for example in Roade?
We have not been informed any plans on the part of the BSA to develop such a tool.
I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Roade I like with amenity areas and station nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Roade suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
How do I use the search tool to choose a conveyancing solicitor in Roade on the authorised to act for my mortgage?
Step one is to pick a bank such as Accord Mortgages Ltd, The Royal Bank of Scotland or Britannia then type in your preferred area e.g. Roade. Conveyancing organisations in Roade and across England and Wales should be listed.
How much will conveyancing in Roade cost?
Almost all Roade conveyancing firms will charge a standard fee. Where additional work become due during the conveyancing your conveyancing practitioner must advise you in writing of such further costs for such work immediately it becomes apparent. Some companies will agree not to render an invoice if a transaction does not go ahead, others will levy an bill for a proportion of the set fee, calculated based on the stage at which the deal does not go ahead.
We would recommend that you ask various conveyancers to give you an estimate.