I had intended to instruct a property lawyer in Sowerby Bridge for our house purchase. Our financial adviser informed us that our bank Nationwide Building Society won't deal with them. Why is this not regarded as unfair competition?
Lenders in the main imposes restrictions either the category or the volume of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. As well as restricting the type of firm, some have reduced the number of solicitor practices they permit to act for them. Be aware that Nationwide Building Society have no responsibility for the quality of advice provided by any member of Nationwide Building Society Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels since 2008 even though there are mixed opinions about the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that plenty of law firms, including some in or near Sowerby Bridge only carry out a couple conveyances per annum.
A relative advised me that where I am purchasing in Sowerby Bridge I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Sowerby Bridge conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Sowerby Bridge around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Sowerby Bridge Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Sowerby Bridge.
I am looking for a flat up to £245,000 and identified one close by in Sowerby Bridge I like with amenity areas and station nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Sowerby Bridge for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I'm remortgaging my primary house to a buy to let loan with HSBC Bank and intend to use the remaining equity as a deposit on further house. The neighborhood we are looking at is Sowerby Bridge. Will your conveyancers be able to act for both sets of banks and link together the two deals?
Make use of our search tool on this site to be sure that the solicitors are on the appropriate lender panels. Having checked that they are the conveyancer will be able to connect the two transactions but you should talk with you conveyancer and specify your desired outcome and requirements.
As co-executor for the will of my father I am selling a house in Cardiff but live in Sowerby Bridge. My conveyancer (approximately 300 kilometers from meneeds me to execute a stat dec prior to completion. Could you suggest a conveyancing solicitor in Sowerby Bridge who can witness this legal document for me?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are located in Sowerby Bridge
I am about to exchange on the purchase a property in Sowerby Bridge but as a consequence of damage from the recent storms I have agreed compensation from the owner of £2k taking the form of a adjustment in the price. This was going to be dealt with as part of the conveyancing process however my lender will not agree to this. Should they have been notified?
Any solicitor being on a mortgage company conveyancing panel is required to disclose to the lender of any amendments to the purchase price. If you did not allow your solicitor to report the reduction to your lender then they would have to refrain from acting for you and the mortgage company.