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Find a Godmanchester Conveyancing Solictior on Your Lender’s Panel

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

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


Recently asked questions about conveyancing in Godmanchester

Unfortunately I am unable to travel far from Godmanchester. I would like to know the logic why all Godmanchester conveyancers are not on all lender panels?

Lenders ordinarily restrict either the nature or volume of conveyancing practices on their panel. A common example of such criteria being that the practice needs to have two or more partners. In addition to restricting the structure of firm, some banks for instance HSBC made a decision to reduce the number of practices they use to represent them. You should note that lenders have no responsibility for the quality of service supplied by any Godmanchester property lawyer on their panel. Mortgage fraud was a key driver in the reduction of conveyancing panels from 2008 notwithstanding that there are contrary points of view about the extent of solicitor involvement in some of that fraud. Statistics via HM Land Registry reveal that thousands of law organisations only transact less than three conveyances a year. Those advocating conveyancing panel pruning question why law firms should have any entitlement to be on a conveyancing panel when it is evident that property law is not their speciality?

We are buying a newly converted apartment in Godmanchester with a homeloan from National Westminster Bank.We have a Godmanchester conveyancing practitioner but National Westminster Bank advised that her practice is not on their approved list of member firms. we are left little option but to use a National Westminster Bank panel firm or keep our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?

Unfortunately,no. The mortgage issued to you contains terms and conditions, a common one being that lawyers will be on the National Westminster Bank solicitor panel. Until recently, most mortgage companies had large numbers of law firms 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for National Westminster Bank

Will our lawyer be raising enquiries concerning flooding as part of the conveyancing in Godmanchester.

The risk of flooding is if increasing concern for lawyers dealing with homes in Godmanchester. Plenty of people will acquire a property in Godmanchester, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Conveyancers are not best placed to offer advice on flood risk, but there are a numerous searches that may be undertaken by the purchaser or by their lawyers which should give them a better understanding of the risks in Godmanchester. The standard property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to discover if the property has suffered from flooding. In the event that the property has been flooded in past which is not revealed by the vendor, then a purchaser could issue a claim for damages as a result of such an incorrect response. A buyer’s solicitors will also order an enviro report. This will higlight whether there is a recorded flood risk. If so, additional inquiries will need to be made.

Are there restrictive covenants that are commonly identified as part of conveyancing in Godmanchester?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Godmanchester. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

What makes a Godmanchester lease defective?

Leasehold conveyancing in Godmanchester is not unique. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

    Repairing obligations to or maintain parts of the building

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Norwich and Peterborough Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

I acquired a split level flat in Godmanchester, conveyancing having been completed 7 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Godmanchester with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2076

With only 57 years left to run the likely cost is going to be between £28,500 and £33,000 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

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