Me and my fiance are buying a 1 bedroom apartment in Broadclyst with a mortgage. We like our Broadclyst solicitor, however the mortgage company advise she’s not on their "panel". It appears that we have little option but to appoint one of the bank panel firms or continue with our Broadclyst conveyancing practitioner as well as pay for one of their panel lawyers to represent them. We regard this is unjust; can we not demand that the mortgage company use our Broadclyst solicitor ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your Broadclyst conveyancing solicitor to apply to be on the conveyancing panel.
Can the conveyancing solicitors identified through your search tool execute auction conveyancing in Broadclyst?
There are a number of auction practitioners we can put you in touch with those conducting auction conveyancing. Broadclyst is just one of our locations where our lawyers are based.
I used Arc property Solicitors a few years ago for my conveyancing in Broadclyst. Now, I need my documents however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Broadclyst of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £235,500 and found one round the corner in Broadclyst I like with open areas and transport links nearby, however it's only got 61 years on the lease. I can't really find anything else in Broadclyst suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I am just shy of a 10% deposit on my house purchase in Broadclyst , but I still want to proceed. Do I have options?
You can agree a lower deposit. Many property owners will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute