I can't travel far from Yate. Is there a reason why all Yate solicitors are not on all bank panels?
Lenders tend to restrict either the type or the number of conveyancing practices on their approved list of lawyers. Typical examples of such restriction(s) being that the firm must have two or more partners. In addition to restricting the structure of firm, some lenders made a decision to limit the size of their panel they permit to represent them. It is worth noting that mortgage companies have no liability for the quality of conveyancing given by any Yate property lawyer on their approved list. Property fraud was the primary trigger for the rationalisation of conveyancing panels from 2008 notwithstanding that there are conflicting views concerning whether solicitors sat at the center of that fraud. Statistics from HM Land Registry exposes that thousands of conveyancing firms only transact less than three conveyances annually. Those advocating conveyancing panel pruning ask why law firms deserve the right to remain on a conveyancing panel when clearly conveyancing is not their primary expertise?
Can your site be used to find a Conveyancing solicitor in Yate even where I’m not purchasing or selling a house, for example if I wish to acquire an office in Yate with a mortgage from Nationwide Building Society?
Our search tool is mainly used to help choose residential conveyancing solicitors in Yate but we have set out towards the bottom of this page some Yate commercial conveyancing firms. You will need to enquire with the solicitors directly to see if they can also act for Nationwide Building Society
My lawyer in Yate has never been on on the Leeds Building Society Conveyancing Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the Leeds Building Society panel of approved conveyancing solicitors?
The limited options available to you here include:
- Complete the purchase with your existing Yate lawyers but Leeds Building Society will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the overall legal charges and result in frustration.
- Get a new solicitor to act in the conveyancing, remembering to check they are on the Leeds Building Society panel
How does conveyancing in Yate differ for newly converted properties?
Most buyers of new build property in Yate approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Yate typically purchase the real estate, 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 used to new build conveyancing in Yate or who has acted in the same development.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in Yate I like with amenity areas and transport links in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Yate suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the remaining unexpired lease term may be an issue. Discount the offer by the anticipated 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 could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.