Me and my partner are buying a 2 bedroom apartment in Droylsden with a mortgage. We wish to retain our Droylsden conveyancer, however the mortgage company says she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Droylsden property lawyer and pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. 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. Another option that might be available is for your Droylsden conveyancing lawyer to apply to be on the conveyancing panel.
I have given 8 weeks notice to my existing landlord and must vacate my let out flat in Droylsden by the end of next month. Conveyancing for my house purchase is progressing. How realistic is it to complete in 4 weeks as I wish to avoid having to find short term accommodation?
It is unwise to give notice on a rental until exchange of contracts has taken place. If you have not previously done so, notify to your lawyer and request that they seek the assistance the sellers solicitors, try to get a realistic time scale from them that everyone will aim towards
Are the Droylsden conveyancing solicitors identified as being on the Lloyds conveyancing panel, together with their details provided by Lloyds?
Droylsden conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
How does conveyancing in Droylsden differ for new build properties?
Most buyers of new build premises in Droylsden come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Droylsden typically buy the land, 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 Droylsden or who has acted in the same development.
I opted to have a survey completed on a property in Droylsden ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks will refuse to give a loan on such a premises.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Droylsden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Droylsden to see if the conveyancing costs will increase in light of this.