My wife and I are intent on buying a maisonette in Chipping Sodbury. My property lawyer is not on the mortgage company solicitor list. Can I still use my Chipping Sodbury conveyancing solicitor notwithstanding that they are excluded from the lender panel?
Your options include
- Complete the purchase with your chosen Chipping Sodbury property lawyer but your mortgage company will no doubt retain a solicitor from their conveyancing panel. The net result is additional charges together with likely frustration.
- Appoint a fresh property lawyer to act in the purchase, obviously checking they are on the lender conveyancing panel.
- Convince your solicitor to pull out all the stops to get listed on the lender’s conveyancing panel
I am buying a semi-detached house in Chipping Sodbury. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Chipping Sodbury you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Chipping Sodbury.
I opted to have a survey completed on a house in Chipping Sodbury ahead of appointing lawyers. I have been told that there is a flying freehold element to the property. The surveyor has said that some banks may refuse to issue a mortgage on this type of home.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chipping Sodbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chipping Sodbury to see if the conveyancing will be more expensive.
I am on look out for some leasehold conveyancing in Chipping Sodbury. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Chipping Sodbury - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Chipping Sodbury Leasehold Conveyancing - Sample of Queries before Purchasing
Where a Chipping Sodbury lease has no more than eighty years it will impact the value of the flat. Check with your lender that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Chipping Sodburylease extensions you will be be obliged to have been the owner of the property for 24 months before you are entitled to exercise a lease extension. On the whole the cost for major works are not incorporated into the maintenance charges, albeit that a few managing agents in Chipping Sodbury obliged leasehold owners to pay into a reserve fund created for the specific purpose of establishing a fund for major works. The answer will be useful as a) areas can cause problems for the building as the communal areas may begin to deteriorate where repairs remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to know about it
I would be grateful if you would clarify what my options are where my Chipping Sodbury conveyancing searches reveals detrimental results?
Usually, most concerns that arise in Chipping Sodbury conveyancing search responses can be addressed ahead of completion or title insurance may be put in place. It is crucial to note that although you may be purchasing the property and may be willing to live with the search results, your lender may not, and ultimately have the final decision.