We instructed a Great Shelford based lawyer for our conveyancing in Great Shelford recently. Reviewing the Terms it is apparent thatI am responsible for fees even if the movefalls through. Would I be best advised to appoint a web based lawyer offering no-sale-no-fee conveyancing in Great Shelford?
Generally there is a concession along the lines that if "No Sale No Fee" is offered then the conveyancing charges will generally be uplifted to counteract the cases that do not go ahead. Also remember that such deals generally do not cover disbursements by way of example Great Shelford conveyancing search expenses.
We are selling our apartment in Great Shelford. Will my lawyer need to be required to be on the Co-operative conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Co-operative conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
When it comes to mortgage companies such as Yorkshire BS, do Great Shelford conveyancers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I recently had an offer accepted on a house in Great Shelford. My financial adviser suggested a conveyancing practitioner. I paid an on account payment of £200. A few days later, the property lawyer contacted me to say that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My offer was accepted on a house in Great Shelford on 19/7/2024, valuation was booked 3 days after, received a clean bill of health. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Lloyds and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Lloyds conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Great Shelford differ for newly converted properties?
Most buyers of new build or newly converted property in Great Shelford approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Great Shelford 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 accustomed to new build conveyancing in Great Shelford or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Great Shelford I like with a park and transport links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Great Shelford for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.