My wife and I are purchasing a 1 bedroom apartment in Great Sankey with a mortgage. We like our Great Sankey conveyancer, however the bank says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Great Sankey solicitor as well as pay for one of their panel lawyers to represent them. This feels very unfair; are we not able to insist that the lender use our Great Sankey property lawyer ?
No, not really. Your mortgage offer 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. A further alternative is for your Great Sankey conveyancing solicitor to apply to be on the conveyancing panel.
Is there a reason why leasehold purchase conveyancing in Great Sankey costs more?
In short, leasehold conveyancing in Great Sankey and elsewhere usually necessitates extra hours of investigation compared to freehold transactions. This includes lease investigation, communicating with the landlord about serving applicable notices, procuring current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
I have todayfound out that Wolstenholmes have closed. They carried out my conveyancing in Great Sankey for a purchase of a leasehold flat 9 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The quickest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Great Sankey conveyancing specialists.
I'm refinancing my existing property to a BTL mortgage with Alliance & Leicester and intend to use the remaining equity as a down payment on further house. The area we are interested in is Great Sankey. Will your conveyancers be able to act for both sets of banks and tie in the transactions?
Make use of our search tool on this site to check that the solicitors are approved by both lenders. On the basis that they are the solicitor should be able to connect the two deals but you should talk with you solicitor and specify your expectations and needs.
Our offer on house in Great Sankey has been agreed to, the vendor does however have an associated purchase. The vendors have submitted an offer on on an apartment, but it’s not been accepted yet, and has viewings of other flats booked. I have chosen a local conveyancing solicitor in Great Sankey. What should be my next step? At what point should I apply for the mortgage with HSBC?
It is normal to have apprehensions where there is an associated chain given your reluctance to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Great Sankey conveyancing search costs, etc). First, you must ensure that your conveyancing practitioner is on the HSBC conveyancing panel. As to the next phase this very much depends on the uniqueness of your case, desire for this property and on the state of the market. During a hot market many purchasers will apply for the mortgage with HSBC and arrange for the valuation and only if it was satisfactory would they pay their conveyancer to move forward with searches.