We are planning to purchase a 2 bedroom apartment in Cobham with a mortgage. We have a Cobham conveyancer, however the lender advise he's not on their "panel". It seems we have little choice but to select one of the mortgage company panel firms or continue with our Cobham conveyancing practitioner as well as pay for one of their panel lawyers to represent them. We feel that this is inequitable; is there anything we can do?
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 Cobham conveyancing solicitor to apply to be on the conveyancing panel.
Do commercial conveyancing searches reveal planned roadworks that may impact a commercial land in Cobham?
Its becoming the norm that commercial conveyancing solicitors in Cobham will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Cobham. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cobham.
For every commercial conveyancing transaction in Cobham it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Cobham commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Cobham.
How does conveyancing in Cobham differ for newly converted properties?
Most buyers of new build premises in Cobham approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Cobham typically 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 conveyancers 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 Cobham or who has acted in the same development.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Cobham I like with amenity areas and station in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Cobham suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Please can you refer me to a conveyancer for conveyancing in Cobham (or a few miles around that area)? This is for lease extension.We had one selected but just discovered that they can't deal with Virgin Money.
The purpose of this site is limited to being a directory service for property lawyers who want to be listed as being on the approved conveyancing panel for Virgin Money in certain areas for instance Cobham . We dont recommend any specific conveyancer.