We are about to sign contracts for a leasehold flat in Keswick. We encountered a snag. Our mortgage offer with Leeds Building Society expires on 2/3/2022 but the vendors are suggesting a completion date of 4/3/2022. Is it possible to extend the loan offer?
The person best placed to deal with your issue is your lawyer who will calculate if he or she is corresponding with the bank, seller’s solicitors, property agents or indeed all parties based on the circumstances your conveyancing to date.
My husband and I are hoping to buy a newly converted flat in Keswick with a mortgage from Chelsea Building Society.We have a Keswick conveyancing solicitor but Chelsea Building Society informed us he's not on their "panel". We have to appoint a Chelsea Building Society panel solicitor or retain our preferred solicitor and fork out for a Chelsea Building Society panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Chelsea Building Society use our lawyer?
No, not really. The home loan issued to you is subject to its terms and conditions, a common one being that lawyers needs to be on the Chelsea Building Society conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Chelsea Building Society
When it comes to mortgage companies such as TSB, do Keswick lawyers have to pay a fee to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I am currently in the process of buying my council flat in Keswick. I have a mortgage offer with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
At last I have had an offer on a maisonette in Keswick accepted, the sellers do nevertheless have a tied purchase. The sellers have placed an offer on somewhere, however it’s not been accepted yet, and are looking at other flats booked. I have chosen a nearby conveyancing solicitor in Keswick. What do I do now? When should I get the mortgage application with Nationwide going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx one thousand pounds, then survey, Keswick conveyancing search fees, etc). First, you must ensure that your conveyancing practitioner is on the Nationwide conveyancing panel. As to the next phase this very much depends on the specifics of your transaction, attraction to this property and on the state of the market. During a buoyant market some home buyers would apply for the mortgage with Nationwide and arrange for the valuation and only if it comes back ok would they ask their property lawyer to move forward with searches.
I require fast conveyancing in Keswick as I have a deadline to exchange contracts in less than 3 weeks. Luckily I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you have the choice not to have searches carried out although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Keswick the following are examples of what can crop up and adversely impact market value: Enforcement Actions, Outstanding Charges, Overdue Grants, Unadopted Roads,...
Is it best to go with a Keswick conveyancing practitioner based in the vicinity that I am purchasing? We have a good friend who can execute the legal formalities however her office is 200miles away.
The primary upside of using a local Keswick conveyancing practice is that you can drop in to sign paperwork, present your identification documents and apply pressure on them if necessary. They will also have local insight which is a benefit. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and on the whole were content that must outweigh using an unfamiliar Keswick conveyancing solicitor just because they are Keswick based.