My fiance and I are buying a 1 bedroom flat in Waddon with a mortgage from Leeds Building Society.We like our Waddon conveyancing lawyer but Leeds Building Society says his firm is not on their approved list of firms. We have to appoint a Leeds Building Society panel lawyer or keep our preferred solicitor and fork out for a Leeds Building Society panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan offered to you is subject to its terms and conditions, a common one being that conveyancers will be on the Leeds Building Society conveyancing panel. Until recently, most mortgage companies had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for Leeds Building Society
A relative pointed out to me me that in buying a property in Waddon there could be various restrictions preventing external changes to the property. Is this right?
There are a number of properties in Waddon which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Waddon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am purchasing a property in Waddon. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?
As you are obtaining a mortgage with Virgin Money your lawyer must follow the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook stipulates minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Virgin Money where a lease fails to meet these provisions. The requirements relate to the installation of panels on properties nationwide and is not limited to Waddon.
The formalities of my remortgage has taken place for my property in Waddon. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
How does conveyancing in Waddon differ for newly converted properties?
Most buyers of new build premises in Waddon come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Waddon typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Waddon or who has acted in the same development.
I decided to have a survey carried out on a house in Waddon ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some banks may refuse to give a loan on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements for example to Halifax. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Waddon. Conveyancing may be slightly more expensive based on your lender's requirements.
My uncle has suggested that I use his conveyancing solicitors in Waddon. Should I find my own property lawyer?
There are no two ways about it the best way to choose a conveyancing practitioner is to get feedback from friends or family who have actually experience in using the firm that you are are thinking of instructing.
I purchased a flat in Waddon last 2/2/2024 and to date it is still not registered with the Land Registry. It is part of a development site and my conveyancing practitioner told me that it can take twelve months to register. I have spoken with HMLR directly and they say that the initial application was cancelled due to questions not being addressed in time. What can I do?
It is your conveyancer that you should get in touch with in order to satisfy any questions which have been raised as part of the registration formalities for your Waddon property. Normal Waddon conveyancing practice includes an undertaking on the part of the vendor’s solicitor that they will assist in resolving any requisition raised by HMLR so it may be a case of taking action to enforce that undertaking in some way.