We are planning to buy a 1 bedroom apartment in Wedmore with a mortgage. We have a Wedmore conveyancer, but the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Wedmore conveyancing practitioner and pay for one of their panel lawyers to represent them. We consider that this is unjust; are we not able to insist that the mortgage company use our Wedmore conveyancing practitioner ?
No, not really. Your mortgage offer 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 Wedmore conveyancing solicitor to apply to be on the conveyancing panel.
How can we tell if a Wedmore conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Wedmore obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer handling your conveyancing.
Two weeks ago we had a mortgage agreed in principle with Leeds Building Society. Wedmore conveyancing lawyers have been selected. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
Some lenders take longer than others. Have Leeds Building Society done the survey? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Yorkshire BS have agreed my mortgage in principle, my bid on a property in Wedmore has been agreed to, what are the next steps?
Your property agent will need to know who your solicitors are (ensure that the conveyancers are on the bank’s approved list). Call up Yorkshire BS or the broker and complete any appropriate forms. Yorkshire BS will sellect a valuer who will get in touch with the estate agent or vendor to schedule a time for the valuation to happen. Once carried out (assuming no problems) it takes approximately ten days to receive the mortgage offer. Yorkshire BS will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Wedmore.
Due to the encouragement of my in-laws I had a survey completed on a house in Wedmore before retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks may not give a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wedmore. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wedmore to see if the conveyancing will be more expensive.
We're new on the property ladder - had an offer accepted, but the agent advised that the seller will only move forward if we use their preferred lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a high street solicitor who is familiar with conveyancing in Wedmore
We suspect that the owner is not behind this demand. Should the owner desire ‘a quick sale', alienating a genuine purchaser is going to damage their objectives. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to appoint your own,trusted Wedmore conveyancing firm - not the ones that will earn their negotiator at the agency a referral fee or achieve conveyancing targets pre-set by HQ.
I’m about to sell my basement apartment in Wedmore. Conveyancing has not commenced, but I have recently had a yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as usual given that all ground rent and maintenance charges will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Wedmore Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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Many Wedmore leasehold apartments will have a service charge for the upkeep of the building set on behalf of the management company. If you acquire the apartment you will have to pay this contribution, normally in instalments throughout the year. This can be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met annual, ordinarily this is not a exorbitant amount, say approximately £25-£75 but you should to enquire as on occasion it can be many hundreds of pounds. Best to be warned whether changing the roof or some other major work is due shortly that will be shared by the leaseholders and will materially impact the level of the service costs or necessitate a specific payment. What prohibitions are contained in the Wedmore Lease?
Why am I unable to complete my conveyancing in Wedmore on May bank holiday?
This is due to the fact that on completion the sale price needs to be transferred electronically between the banks of the buyer and seller's property lawyer and currently this can only happen on a working day. It is not possible to complete on a weekend either.