My partner and I are planning to purchase a property in Windermere and have appointed a Windermere conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Skipton Building Society have this morning contacted us to advise us that they have now hit a problem as our Windermere lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers 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 property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Windermere 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.
Will lawyers ask for money on account for my conveyancing in Windermere?
If you are buying a property in Windermere your lawyer will request that you place them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the sale price then this should be asked for immediately prior to exchange of contracts. Any further balance that is needed should be transferred shortly before completion.
How does conveyancing in Windermere differ for newly converted properties?
Most buyers of new build premises in Windermere come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Windermere usually 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 conveyancing solicitors 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 Windermere or who has acted in the same development.
I am looking for a flat up to £195,000 and identified one close by in Windermere I like with open areas and transport links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Windermere suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage that many years may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
Are there any apps to assist me to identify a Windermere solicitor on the Britannia conveyancing panel? I drive a motor bike and am happy to travel upto 10miles to meet the lawyer.
Feel free to make use of the facility on this page. Please select a bank and your location and you will see a number of Windermere conveyancing lawyers based on proximity. We have listed some Windermere conveyancing firms at the bottom of this page and you can contact them to see whether they are on the Britannia member panel
My uncle has suggested that I instruct his conveyancing solicitors in Windermere. Should I choose my own property lawyer?
No doubt the best way to choose a conveyancing lawyer is to get recommendations from friends or family who have actually experience in using the conveyancer that you are contemplating using.