Me and my partner are hoping to acquire a 2 bedroom apartment in Waterhouses with a mortgage. We have a Waterhouses solicitor, but the bank advise he's not on their "panel". It appears that we have little option but to appoint one of the lender panel conveyancing practices or continue with our Waterhouses solicitor as well as pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. A further alternative is for your Waterhouses conveyancing lawyer to apply to be on the conveyancing panel.
I have a decision in principle. The bank mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would prefer to instruct a Waterhouses based conveyancing firm?
Do check but the the probability is that give you one of their panel solicitors should you want the "fee-free" deal. Contact the mortgage company and ask if they allow a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Waterhouses.
I have todaydiscovered that Action Conveyancing have closed. They conducted my conveyancing in Waterhouses for a purchase of a leasehold flat 12 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The quickest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Waterhouses conveyancing specialists.
How does conveyancing in Waterhouses differ for new build properties?
Most buyers of new build residence in Waterhouses approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Waterhouses tend to buy 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 accustomed to new build conveyancing in Waterhouses or who has acted in the same development.
I am looking into buying my first house which is in Waterhouses and I am already nervous. I couldn't find anything specific about Waterhouses. Conveyancing will be needed in due course but do you know about the Waterhouses area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Waterhouses. In the meantime here are some basic statistics that we found
I own a leasehold house in Waterhouses. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Waterhouses who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Waterhouses conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a 1st floor flat in Waterhouses, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Waterhouses with a long lease are worth £191,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2078
With only 53 years remaining on your lease we estimate the price of your lease extension to span between £27,600 and £31,800 as well as 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 detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.