My partner and I are hoping to purchase a property in Turnham Green and are in fact using a Turnham Green conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Alliance & Leicester have this morning contacted us to advise us that there is now an issue as our Turnham Green solicitor is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Turnham Green lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can I use your services to recommend a Conveyancing solicitor in Turnham Green even if I’m not purchasing or disposing of a house, for instance where I want to buy a shop in Turnham Green with a loan from Nationwide Building Society?
The service is primarily there to find residential conveyancing solicitors in Turnham Green but we have listed at the bottom of this page a selection of Turnham Green commercial conveyancing firms. You will need to enquire with the company directly to establish if they can also act for Nationwide Building Society
We're in Turnham Green, FTBs purchasing with a mortgage (lender is Aldermore , and our lawyer is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial premises in Turnham Green?
Many commercial conveyancing solicitors in Turnham Green will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Turnham Green. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Turnham Green.
For every commercial conveyancing transaction in Turnham Green it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Turnham Green commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Turnham Green.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Turnham Green I like with open areas and transport links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Turnham Green for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities 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 speak to your conveyancing solicitor about this matter.
I'm converting the mortgage on my existing property to a buy to let mortgage with Coventry Building Society and intend to use the remaining equity as a deposit on further property. The location we are interested in is Turnham Green. Will your lawyers be able to act for the two banks and link together the two deals?
Do use our search tool on this site to be sure that the solicitors are on the relevant lender panels. Assuming that they are the solicitor will be able to tie up the two transactions but you should talk with you lawyer and make clear your expectations and needs.