Me and my fiance are purchasing a 3 bedroom apartment in Whyteleafe with a mortgage. We like our Whyteleafe solicitor, however the mortgage company says he's not on their "panel". It appears that we have little option but to appoint one of the lender panel solicitors or keep our Whyteleafe property lawyer as well as pay for one of their panel ones to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Whyteleafe conveyancing solicitor to apply to be on the conveyancing panel.
At what point does exchange of contracts happen for sale conveyancing in Whyteleafe and am I required to be at the conveyancers office?
Where you are near to one of the conveyancing solicitors in Whyteleafe you are welcome to come in to sign the paperwork. That being said, the law practices we recommend offer a national conveyancing service and provide as equally comprehensive and professional a job for you when dealing with you digitally. The executing of the contract is not the important part. A signed contract simply enables the firm to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Whyteleafe)to be in the office at the appropriate time.
We wanted to use a conveyancing solicitor in Whyteleafe for our home move. Our broker informed us that our bank Alliance & Leicester won't deal with them. Surely this is unfair competition?
Before the recession most mortgage companies had a different appetite for risk. Almost all Whyteleafe conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms concerning their operations and their employees as well as establishing certain criteria such a completing on a minimum volume of conveyancing. Many Whyteleafe conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Whyteleafe is amongst the many areas where the lawyers we list are members of the panel for Alliance & Leicester .
Is it necessary to take out insurance to cover chancel repairs when purchasing a house in Whyteleafe?
Unless a prior acquisition of the house took place after 12 October 2013 you could take it that conveyancing practitioners handling conveyancing in Whyteleafe to remain recommending a chancel search and or insurance against a claim.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Whyteleafe I like with amenity areas and railway links nearby, however it only has 61 remaining years left on the lease. There is not much else in Whyteleafe in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage that many years will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
We're FTB’s - agreed a price, yet the agent has warned us that the vendor will only issue a contract if we use the agent's recommended lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Whyteleafe
It is highly unlikely the vendors are behind this. If they require ‘a quick sale', turning down a motivated purchaser is likely to cause more damage than good. Bypass the agents and go straight to the owners and make sure they comprehend that (a)you are motivated purchasers (b)you are ready to progress, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you intend to instruct your preferred Whyteleafe conveyancing firm - not the ones that will earn the estate agent a kickback or achieve conveyancing thresholds pre-set by senior management.