I am in a contract race with another buyer for a property in Great Linford. What can I do to expedite matters?
In a situation where you are under a tight deadline to complete it is highly recommended that your lawyer is familiar with the location as they will have local relationships and knowledge. It is possible that they may have handled otherproperties in the same road. Therefore consider using a Great Linford conveyancing lawyer. In addition, check that the lawyer is on the lender panel. It is estimated that 18% of Great Linford conveyancing deals are delayed or derailed after discovering a purchaser’s lawyer was not on their mortgage lender’s panel. This can often result in the legal transfer of property being held up by as much as 21 days. It is estimated that this issue impacts in the region of 100,000 home moves annually. Many Great Linford conveyancing firms can not represent certain lenders so do check as early as possible.
I am thinking of remortgaging my property in Great Linford, does my lawyer have to be on the Aldermore Conveyancing panel?
In theory, you could use a solicitor that is not on the Aldermore conveyancing panel, but Aldermore would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Can you help - my lawyer advises that absentee landlord insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Great Linford?
The appropriate level of absentee landlord indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Leeds Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
We expect to receive a AIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Great Linford solicitors on the Kent Reliance conveyancing panel, or is it better to go independently?
You will need to appoint Great Linford solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
It is not clear whether my mortgage offer requires a lease extension. I have called into my local Great Linford building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Great Linford conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. I simply don't know who is right.
As long as the solicitor is on the lender approved list, they must adhere to the Council of Mortgage Lenders’ Handbook requirements for the lender. 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I'm refinancing my existing home to a BTL mortgage with Chelsea Building Society and I will use the rest of the raised equity as a deposit on another property. The location we are looking at is Great Linford. Will your solicitors be able to act for the two lenders and tie in the transactions?
Do use our comparison tool on this site to ensure that the solicitors are on the appropriate lender panels. Having checked that they are the solicitor should be able to connect the two deals but you should talk with you lawyer and make apparent your desired outcome and needs.
My husband and I are selling a Great Linford property we inherited some years ago in 2010. I have over a decades worth of conveyancing knowledge and, although retired, see no reason not to undertake the legal work. The purchaser's conveyancer has informed me that their Lenders will not allow us to do our own conveyancing as they require the funds to be transferred to a solicitor's bank account.
Lending requirements to conveyancers from all CML members specify that If the seller does not have legal representation the purchaser’s lawyers should check whether the mortgage company needs to be told so that a decision can be reached if they are prepared to progress.