Me and my fiance are planning to acquire a 2 bedroom apartment in Carterton with a mortgage. We would like to retain our Carterton solicitor, however the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Carterton solicitor as well as pay for one of their panel ones to represent them. We feel that this is unjust; 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 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 Carterton conveyancing solicitor to apply to be on the conveyancing panel.
Would the conveyancing solicitors via your comparison service carry out attended exchange conveyancing in Carterton?
We do have a number of conveyancing experts carrying out one day exchanges. You should call us to get a conveyancing quote and details as to availability.
Do the Building Society Association intend to launch a searchable register to to identify firms on the Earl Shilton BS conveyancing panel for example in Carterton?
Lexsure has not been advised of any plans on the part of the BSA to develop such a register.
I purchased a semi-detached Edwardian house in Carterton. Conveyancing solicitor acted for me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Carterton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing solicitor who completed the work.
I have been on the look out for a flat up to £195,000 and found one near me in Carterton I like with a park and transport links nearby, however it only has 52 remaining years left on the lease. There is not much else in Carterton in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.