My wife and I are intending to buy a 2 bedroom apartment in Ferring and Goring with a mortgage. We like our Ferring and Goring lawyer, but the lender says he's not on their "panel". It appears that we have little choice but to appoint one of the bank panel firms or keep our Ferring and Goring lawyer and pay for one of their panel ones to act for them. We regard this is inequitable; can we not insist that the bank use our Ferring and Goring 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. Another option that might be available is for your Ferring and Goring conveyancing lawyer to apply to be on the conveyancing panel.
My husband and I are hoping to buy a newly converted flat in Ferring and Goring with a homeloan from Coventry Building Society.We would like to retain our Ferring and Goring conveyancing lawyer but Coventry Building Society informed us she’s not listed on their approved list of firms. We have to appoint a Coventry Building Society panel solicitor or keep our local solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Coventry Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you contains various provisions, a common one being that conveyancers will be on the Coventry Building Society solicitor panel. in the past, 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 solicitors to apply to be on the conveyancing panel for Coventry Building Society
I happen to be the sole beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Ferring and Goring. The Ferring and Goring property was put into my name in November. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my proprietorship will be regarded the same way as if I'd bought the house in November. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How practical a view banks take of it, depend on the bank as this obligation primarily exists to capture the purchase and immediately sell or the wholesaling and assigning of property.
We were going to get a AIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Ferring and Goring solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Ferring and Goring solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I'm spending time looking at houses in Ferring and Goring and I am about to put in an offer. Is it advisable to have my conveyancing practitioner on ‘stand by’? I intend to finance via a mortgage with Co-operative.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are seeking a mortgage with Co-operative, make sure you remember to check that your lawyer is on the Co-operative conveyancing panel.
How does conveyancing in Ferring and Goring differ for new build properties?
Most buyers of new build or newly converted property in Ferring and Goring approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Ferring and Goring usually acquire 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 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 Ferring and Goring or who has acted in the same development.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Ferring and Goring and how can your lawyers assist?
The particular law that you refer to gives a safeguard to commercial tenants, giving them the a statutory right to apply to court for a renewal lease and remain in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Ferring and Goring is one of the numerous areas of the UK in which our lawyers have offices