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Find a Colyton Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Colyton conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Colyton

We were just about to exchange contracts for a leasehold flat in Colyton. We have hit a problem. Our mortgage offer with Britannia expires on 24/4/2024 but the vendors are suggesting a completion date of 26/4/2024. Can one extend the loan expiry date?

The best person to address this issue is your lawyer who will assess whether he or she is corresponding with the mortgage broker, owner’s conveyancers, selling agents or indeed all three based on the circumstances your house move as of today.

My fiance and I are buying a 1 bedroom apartment in Colyton with a homeloan from Barclays Direct.We have a Colyton conveyancing solicitor but Barclays Direct informed us her practice is not listed on their approved list of firms. It seems we have little choice but to instruct a Barclays Direct panel lawyer or keep our local solicitor and pay for a Barclays Direct panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Barclays Direct use our lawyer?

No, not really. The home loan issued to you is subject to its terms and conditions, a common one being that conveyancers must be on the Barclays Direct solicitor panel. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Barclays Direct

We had chosen solicitors with offices in Colyton on the Principality solicitor approved list. They are now charging me a separate amount for the legal aspects of the Principality mortgage. Is this a supplemental conveyancing fee specified by Principality?

As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner can levy a fee for this. The fee is not set by Principality but by your Colyton conveyancer. Plenty of firms on the Principality panel will quote an ‘acting for lender’ fee and others do not.

We have agreed to purchase a house in Colyton. An unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As your lender is HSBC your lawyer must follow the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to HSBC where a lease does not meet these requirements. The conditions relate to the installation of panels on properties countrywide and is not isolated to Colyton.

It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Colyton bank branch on various occasions and was advised it wasn't an issue and they will lend. My Colyton conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their specific requirements. Who do I believe?

As long as the conveyancing practitioner is on the bank approved list, they must adhere to the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.

I am purchasing my first flat in Colyton with a mortgage from Barclays Direct. The developers would not budge the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not reveal to my lawyer about the deal as it would put at risk my loan with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Last August I purchased a leasehold property in Colyton. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Colyton Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing

    Is anyone aware of any major works in the near future that could add a premium to the maintenance fees? What prohibitions exist in the Colyton Lease? If a Colyton lease has no more than eighty years it will have adverse implications on the marketability of the apartment. It is worth checking with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will probably require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will be required to have been the owner of the premises for 24 months in order to be eligible to carry out a lease extension.

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