Is the fact that my conveyancer in Bishops Waltham is not on my mortgage company's solicitor panel that there is a problem with the quality of his work?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Bishops Waltham conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
How does conveyancing in Bishops Waltham differ for newly converted properties?
Most buyers of new build premises in Bishops Waltham approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Bishops Waltham usually acquire 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 Bishops Waltham or who has acted in the same development.
I need to find a conveyancing solicitor for leasehold conveyancing in Bishops Waltham. I have land on a web site which appears to be the perfect offering If there is a chance to get all this stuff completed via email that would be preferable. Do I need to be concerned? What should out be looking out for?
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?
I am tempted by the attractive purchase price for a two maisonettes in Bishops Waltham both have about forty five years unexpired on the leases. Will this present a problem?
There are plenty of short leases in Bishops Waltham. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena.
Bishops Waltham Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
How long is the Lease? The best form of lease arrangement is a share of the freehold. In this scenario the tenants enjoy control and notwithstanding that a managing agent is often employed where it is larger than a house conversion, the managing agent is directed by the tenants. How much is the ground rent and service charge?
My lender have just issued us with a mortgage offer. We have retained a local conveyancer in Bishops Waltham last week. Today, our financial adviser called to say that the lender said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we had no idea that the mortgage company had some control over our choice Is this allowed?
You are at liberty to use any lawyer you want to instruct for your conveyancing in Bishops Waltham but if they are not on the your bank's approved list you must incur an extra fee so the mortgage company can instruct their own lawyers. sometimes it is conceivable that your solicitor may apply to get included on to the bank panel. You can use internet tools including lenderpanel.com to find a conveyancing solcitor in Bishops Waltham on the bank panel. You can go into your high street mortgage company branch in Bishops Waltham. They can recommend conveyancing solicitors in Bishops Waltham on the mortgage company panel.