I had intended to instruct a conveyancing solicitor in Holt for our house purchase. Our financial adviser has since notified us that our bank Chelsea Building Society won't deal with them. Surely this is unfair competition?
Banks ordinarily restrict either the category or the volume of conveyancing practices on their member panel. Typical examples of such restriction(s) being that a law practice must not be a sole practitioner. As well as restricting the type of firm, a few lenders have reduced the amount of firms they allow to act for them. Be aware that Chelsea Building Society have no responsibility for the quality of advice provided by any member of Chelsea Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels since 2008 even though there are mixed views regarding the level of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that thousands of law firms, including some in or near Holt only carry out one or two conveyances a year.
We are purchasing a property and the solicitor has referenced Chancel Repair to which the property could be obligated to contribute to as it falls into the area of such a church. He has mentioned insurance. Is this strictly warranted for conveyancing in Holt
Unless a prior acquisition of the property took place after 12 October 2013 you could assume that conveyancing practitioners conducting conveyancing in Holt to continue to recommend a chancel search and or chancel repair liability insurance.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Holt I like with open areas and transport links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Holt for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage that many years will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
Is it simple use your search app to select a conveyancing practitioner in Holt on the authorised to act for my lender?
First choose a mortgage company such as Accord Mortgages Ltd, Barnsley Building Society or Godiva Mortgages Ltd then type in your preferred area e.g. Holt. Conveyancing firms in Holt and nationally should be shown.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.