Much to our surprise we have been notified by our lender that my Wingate property lawyer is not on the bank Conveyancing panel. How can I be sure whether this is correct?
You need to contact your Wingate lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they may recommend you to a Wingate conveyancing practice that is on the conveyancing panel for your mortgage company.
Is it the case that all Wingate solicitor firms on the Principality conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Principality approved list of solicitors they would need to be overseen by the SRA. Some lenders do list licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Wingate bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Wingate conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend based on their specific requirements. I simply don't know who is right.
The conveyancer must comply with the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase flat in Wingate. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wingate conveyancer is on the HSBC conveyancing panel.
I have todaydiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Wingate for a purchase of a leasehold flat 12 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest way to check if the property is in your name, 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 Wingate conveyancing specialists.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one near me in Wingate I like with a park and railway links nearby, the downside is that it only has 61 years unexpired on the lease. There is not much else in Wingate for this price, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I need to retain a conveyancing solicitor for remortgage conveyancing in Wingate. I happened to discover a web site which seems to have the perfect offering If there is a chance to get all this stuff completed via web that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?