Me and my partner are purchasing a 2 bedroom apartment in Greenfield with a mortgage. We wish to retain our Greenfield lawyer, but the mortgage company says she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Greenfield solicitor and pay for one of their panel lawyers to represent them. This feels very unfair; are we not able to require that the bank use our Greenfield lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Greenfield conveyancing lawyer to apply to be on the conveyancing panel.
Can I be sure that the Greenfield conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Greenfield obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer carrying out your conveyancing.
Last month we had a mortgage agreed in principle with Aldermore. Greenfield conveyancing solicitors have been appointed. What is the average time that one could expect to receive a mortgage offer from Aldermore?
There is no definitive answer here. Have Aldermore completed the valuation? Have you advised Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am purchasing a property in Greenfield. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
Given that you are obtaining a mortgage with Bank of Ireland your lawyer must comply with the formal instructions contained in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and solicitors are required to report to Bank of Ireland where a lease fails to comply with these conditions. The requirements relate to the installation of panels on properties nationwide and is not isolated to Greenfield.
How does conveyancing in Greenfield differ for new build properties?
Most buyers of new build residence in Greenfield come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Greenfield typically buy 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 conveyancing solicitors 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 used to new build conveyancing in Greenfield or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and found one close by in Greenfield I like with open areas and station in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Greenfield suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
What does commercial conveyancing in Greenfield cover?
Greenfield conveyancing for business premises covers a wide range of advice, supplied by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.