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Recently asked questions about conveyancing in Great Wyrley

My partner and I have just bought a house in Great Wyrley. We have since encountered a number of problems with the property which we believe were overlooked in the conveyancing searches. What action can we take? Can you clarify the nature of searches that needed to have been ordered as part of conveyancing in Great Wyrley?

The query is not clear as what problems have arisen and if they are relate to conveyancing in Great Wyrley. Conveyancing searches and due diligence initiated as part of the buying process are carried out to help avoid problems. As part of the legal transfer of property, a property owner answers a form known as a SPIF. If the information proves to be inaccurate, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Great Wyrley.

I require fast conveyancing in Great Wyrley as I have pressure to exchange contracts inside one month. Thankfully I do not need a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?

As you are are a cash purchaser you have the choice not to do searches although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Great Wyrley the following are examples of issues that can arise and adversely affect future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Railway Schemes,...

How does conveyancing in Great Wyrley differ for new build properties?

Most buyers of new build property in Great Wyrley contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Great Wyrley usually acquire the site, 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 accustomed to new build conveyancing in Great Wyrley or who has acted in the same development.

I have been on the look out for a leasehold apartment up to £305k and identified one close by in Great Wyrley I like with open areas and transport links in the vicinity, the downside is that it only has 49 years on the lease. I can't really find anything else in Great Wyrley suitable, so just wondered if I would be making a mistake buying a short lease?

Should you require a home loan the shortness of the lease will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.

I am buying a flat and cash is in place. My lawyer has been given with 2 distinct forms of photographic ID, bank statement, multiple utility bills. Now he requires a copy from a probate lawyer advising that the funds are legitimate and that it has come from inheritance and not dealing E's in Ibiza.

For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Great Wyrley conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.

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