Me and my partner are buying a 1 bedroom apartment in Abercarn with a mortgage. We like our Abercarn conveyancer, but the mortgage company advise he's not on their "panel". It seems we have little choice but to select one of the mortgage company panel solicitors or continue with our Abercarn solicitor and pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. 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 Abercarn conveyancing solicitor to apply to be on the conveyancing panel.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would prefer to use a Abercarn based conveyancing firm?
Do check but the chances are that appoint one of their panel lawyers should you accept the "fee-free" deal. Call the lender to see if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Abercarn.
Due to the encouragement of my in-laws I had a survey completed on a house in Abercarn in advance of instructing lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies tend refuse to give a mortgage on such a home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Abercarn. Conveyancing will be smoother if you use a solicitor in Abercarn especially if they are accustomed to such properties in Abercarn.
I am selling my home. My past conveyancers closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Abercarn if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Abercarn. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
What are your top tips when it comes to appointing a Abercarn conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Abercarn conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Abercarn conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
Can they put you in touch with clients in Abercarn who can give a testimonial?
I inherited a garden flat in Abercarn, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Abercarn with a long lease are worth £202,000. The ground rent is £60 invoiced every year. The lease finishes on 21st October 2075
You have 56 years unexpired we estimate the price of your lease extension to be between £29,500 and £34,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.