I can't travel far from Salford. What is the rationale as to why all Salford solicitors aren't automatically on all mortgage company panels?
Even though it may seem unfair for lenders to restrict who can represent them, from the public’s or solicitor’s standpoint, the the contrary view is that mortgage companies are increasingly anxious and consider it vital to protect them against illegal activities. As a consequence of this concern mortgage companies have reduced their conveyancing panel to a size that they are happy to control.
Are the BSA planning on creating a search tool with a view to to identify practices on the Melton Mowbray Building Society conveyancing panel for instance in Salford?
We are not aware of any plans on the part of the BSA to promote such a tool.
What will a local search tell me concerning the house my wife and I buying in Salford?
Salford conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searchflow The local search plays a central role in many a Salford conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I have been on the look out for a flat up to £305k and found one close by in Salford I like with a park and station nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Salford in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Am I right to be wary about brokers that I am dealing with are suggesting a factory type conveyancing firm as opposed to a local Salford conveyancing practice?
As is the case with many service providers, often input from connections can be worth their weight in gold. But there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest solicitors to use. Sometimes these lawyers might be known to one of the organisations as being good in their field, but sometimes there is an underlying commercial relationship behind the endorsement. You have the discretion to appoint your own lawyer. However, bear in mind that many banks have an approved list of conveyancers you must use for the mortgage aspect of your house move.
My brother-in-law has suggested I instruct a conveyancing solicitor in Salford. I need to find out if they are listed on the lender's approved list of lawyers. Can you help?
It’s a good idea call the conveyancer and ask them if they are on the bank's panel. Alternatively please call us and we can investigate and revert. Should the firm not be on the conveyancing panel we we can help find a reputable conveyancing solicitor in Salford on the panel for your lender.