My husband and I are planning to purchase a flat in Boldon and are in fact using a Boldon conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Chelsea Building Society have this evening contacted us to inform me that there is now an issue as our Boldon lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also act for the purchaser's lender. 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 lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Boldon 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.
We note that you have a post code search directory identifying solicitors on the Nottingham conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Boldon?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Boldon.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Boldon?
There are many recorded licenced Conveyancers in Boldon and Solicitor partnerships in Boldon offering conveyancing It is important to make clear that the two are regulated professionals specialising in the legal work in transferring property. Both can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
How can we tell if a Boldon conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Boldon seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your conveyancing.
Last month we had a mortgage agreed in principle with Yorkshire BS. Boldon conveyancing solicitors are appointed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS done the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Boldon I like with amenity areas and station nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Boldon 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 may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
Your search tool is useful but there are many lawyers listed near Boldon being on the bank conveyancing panel. Can you recommend a specific firm on the bank approved panel?
We do not recommend specific Boldon firms as the right Boldon conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Boldon knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..