Is the fact that my conveyancer in Thornaby is not identified on my bank's solicitor panel that there is a problem with the quality of her conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Thornaby conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
We are about to exchange contracts for a garden flat in Thornaby. We have hit a stumbling block. The mortgage offer with Birmingham Midshires runs out on 11/7/2025 but the owners are putting forward a completion date of 15/7/2025. Is it possible to extend the loan offer?
The person best placed to address this question is your solicitors who will calculate if they should be discussing with the bank, owner’s representatives, estate agents or conceivably all three based on what has happend in your transaction as of today.
we are a couple who intend to purchase a 2 bedroom flat in Thornaby with a loan from Godiva Mortgages Ltd.We have a Thornaby conveyancing lawyer but Godiva Mortgages Ltd says she’s not listed on their "panel". It seems we are left with little choice but to instruct a Godiva Mortgages Ltd panel lawyer or retain our high street solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Godiva Mortgages Ltd use our lawyer?
Unfortunately,no. The loan issued to you is subject to its various provisions, a common one being that lawyers must be on the Godiva Mortgages Ltd approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could find 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Godiva Mortgages Ltd
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a quick, no chain conveyancing. Thornaby is where the house is located. Can you shed any light on this issue?
Flying freeholds in Thornaby are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thornaby you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thornaby may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My husband and I are a fortnight into a freehold purchase having been directed to a firm by the estate agent to carry out the conveyancing in Thornaby. We are not happy. Could you you assist me in finding new conveyancers?
A lawyer would have to be really bad in order to consider diss instructing them. Has your mortgage been issued? In the event that it has you will need to inform them of the new contact details and have the mortgage documents are issued to the new lawyers. Your solicitor ideally needs to be on the lenders panel to avoid supplemental charges and delays. That should be your first question of the new conveyancers. Our search tool should help you find a bank approved lawyer for your home move in Thornaby
Looking forward to complete next month on a studio apartment in Thornaby. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Thornaby should include some of the following:
-
You should know whether the lease permits you to add or improve aspects of the flat- you must know whether it applies to all alterations or just structural alteration, and whether permission is required What remedies are open the freeholder should you have contravened the provisions of the lease? What you can do if a neighbour is in violation of a provision in their lease? You should have a good understanding of the insurance requirements Who has the liability to repair and maintain the building. It is essential that you know which party is liable for the repair and maintenance of every part of the building
I bought a studio flat in Thornaby, conveyancing was carried out in 2005. How much will my lease extension cost? Corresponding flats in Thornaby with a long lease are worth £206,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2091
With 66 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. 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 you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.