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Find a Bubwith Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Bubwith? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Bubwith transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Bubwith

I am one month into the sale of my flat in Bubwith and the EA has just called to say that the purchasers are switching solicitor. The excuse is that the mortgage company will only work with solicitors on their approved list. Why would a major lender only deal with specific lawyers rather the firm that they want to choose to handle their conveyancing in Bubwith ?

UK lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Lenders point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.

How does conveyancing in Bubwith differ for newly converted properties?

Most buyers of new build premises in Bubwith contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in Bubwith tend to buy 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 property lawyers 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 Bubwith or who has acted in the same development.

I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Bubwith I like with a park and station in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in Bubwith suitable, so just wondered if I would be making a grave error purchasing a short lease?

Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years 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 speak to your conveyancing lawyer regarding this matter.

In what way can the Landlord & Tenant Act 1954 affect my commercial property in Bubwith and how can your lawyers assist?

The particular law that you refer to affords a safeguard to commercial lessees, granting the a statutory right to make a request to court for a renewal lease and continue in occupation when the lease comes to an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Bubwith is one of the numerous areas of the UK in which the firms we work with are located

My father has suggested that I appoint his conveyancers in Bubwith. Do I follow his guidance?

Much as we are happy to recommend a Bubwith conveyancing lawyer it’s preferable to select a conveyancing solicitor is to get guidance from friends or family who have used the conveyancer you're are thinking of instructing.

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