I plan on purchasing a leasehold flat in Market Harborough. My Solicitor is not listed on the mortgage company conveyancing panel. Am I still permitted to retain my Market Harborough conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel of approved conveyancing solicitors?
Various options include
- Carry on with your preferred Market Harborough solicitor but your mortgage company will need to retain a conveyancing practitioner on their conveyancing panel. The net result is additional cost together with potential interruption.
- Choose a new conveyancer to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Convince your conveyancing practitioner to pull out all the stops to join the lender’s panel of solicitors
My bank has suggested a law firm on their panel based in Market Harborough but I would rather use a conveyancing lawyer in Market Harborough or nearer to where I live. Are you able to help?
The minority of Market Harborough conveyancing practitioners are approved and listed on all banks conveyancing panel. Use our search tool to find a Market Harborough conveyancing solicitor on the on the lender panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Market Harborough?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Market Harborough. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Market Harborough differ for newly converted properties?
Most buyers of new build residence in Market Harborough come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Market Harborough tend to 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 Market Harborough or who has acted in the same development.
I am looking for a leasehold apartment up to £235,500 and found one near me in Market Harborough I like with a park and station nearby, however it's only got 61 remaining years left on the lease. There is not much else in Market Harborough suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage that many years may be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can ask them to start the process of the extension and pass 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 concerning this matter.