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Find a Castle Bromwich Conveyancing Solictior on Your Lender’s Panel

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

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Recently asked questions about conveyancing in Castle Bromwich

We are purchasing a 3 bedroom apartment in Castle Bromwich with a mortgage. We have a Castle Bromwich conveyancer, however the bank advise she’s not on their "panel". It seems we have little choice but to appoint one of the bank panel firms or continue with our Castle Bromwich conveyancer and pay for one of their panel lawyers to act for them. This seems very unfair; can we not demand that the mortgage company use our Castle Bromwich 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 bank’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 Castle Bromwich conveyancing lawyer to apply to be on the conveyancing panel.

How does conveyancing in Castle Bromwich differ for new build properties?

Most buyers of new build property in Castle Bromwich come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because developers in Castle Bromwich usually acquire the site, 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 Castle Bromwich or who has acted in the same development.

Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Castle Bromwich is where the house is located. Can you offer any advice?

Flying freeholds in Castle Bromwich are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Castle Bromwich you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Castle Bromwich may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

My brother has suggested that I appoint his conveyancing solicitors in Castle Bromwich. Should I use them?

No doubt the best way to find a conveyancing practitioner is to have feedback from friends or family who have actually used the firm that you are are thinking of instructing.

Estate agents have just been given the go-ahead to market my basement flat in Castle Bromwich. Conveyancing has not commenced, however I have recently received a half-yearly service charge demand – should I leave it to the buyer to sort out?

It best that you discharge the service charge as normal given that all ground rent and service charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Leasehold Conveyancing in Castle Bromwich - Examples of Questions you should ask before Purchasing

    Does the lease have onerous restrictions? In the main the outlay for major works are not included within maintenance charges, although some managing agents in Castle Bromwich obliged leaseholders to pay into a reserve fund and this is used to offset against major works. Its a good idea to discover as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical matters such as the tidiness of the common parts. Enquire of other people what they think of them. Finally, find out the dates that the maintenance charges are due to the relevant party and specifically what you get for your money.

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Find out more about how flying freehold can affect your the value of a property.