My wife and I are purchasing a 1 bedroom flat in Kirkby Lonsdale with a mortgage. We have a Kirkby Lonsdale lawyer, but the mortgage company says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or retain our Kirkby Lonsdale conveyancer and pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Kirkby Lonsdale conveyancing solicitor to apply to be on the conveyancing panel.
Why is leasehold purchase conveyancing in Kirkby Lonsdale costs more?
The conveyancing charges for a leasehold premises in Kirkby Lonsdale is inevitably higher than on a freehold residence. This is because there is an amount of supplemental time required in liaising with the landlord and management company to collate the evidence concerning whether the rent and service charges have been cleared and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the block.
Despite weeks of looking the Title Certificate and documents to our home are lost. The lawyers who dealt with the conveyancing in Kirkby Lonsdale 5 years ago have long since closed. What do I do?
You no longer need to have the physical original deeds to establish that you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Kirkby Lonsdale I like with open areas and transport links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Kirkby Lonsdale in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will likely be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner 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. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
My husband and I are new on the property ladder - agreed a price, yet the agent told us that the vendor will only issue a contract if we appoint their preferred lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Kirkby Lonsdale
We suspect that the owner is not behind this request. Should the vendor want ‘a quick sale', taking such a hostile approach to a serious buyer is is going to put the whole deal at risk. Contact the vendors directly and make the point that (a)you are genuine purchasers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you will continue to use your own,trusted Kirkby Lonsdale conveyancing firm - not the ones that will earn the estate agent a introducer fee or achieve conveyancing targets pre-set by head office.