We are buying a 2 bedroom flat in Marston Moretaine with a mortgage. We would like to retain our Marston Moretaine conveyancer, however the lender says she’s not on their "panel". It appears that we have little choice but to instruct one of the lender panel firms or keep our Marston Moretaine lawyer and pay for one of their panel firms to represent them. We regard this is unjust; 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. Another option that might be available is for your Marston Moretaine conveyancing lawyer to apply to be on the conveyancing panel.
We are soon to complete on the purchase of a property in Marston Moretaine but as a consequence of damage from the recent storms I have was able negotiate recompense from the owner in the sum of £2k by way of a deduction in the price. This was going to be dealt with as part of amending the contract yet Virgin Money are not allowing this. Why were they informed?
The lawyer being on a Virgin Money approved list is obliged to advise Virgin Money of any variations to the sale price. If you prohibit your conveyancer to disclose the reduction to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new lawyer for your conveyancing in Marston Moretaine.
Me and my partner are purchasing a house in Marston Moretaine. I might seem paranoid but how we can trust a lawyer? On completion day we have to deposit our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the only recipient of my late grandmother’s estate and I have everything in my name alone, including the house in Marston Moretaine. The Marston Moretaine property was put into my name in June. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the house in June. Will no one buy the property for half a year?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Some mortgage companies would take a practical view as this clause is primarily there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
I am expecting a DIP from Barclays this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Barclays recommend any Marston Moretaine solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Marston Moretaine solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
The deeds to our property are lost. The solicitors who handled the conveyancing in Marston Moretaine 4 years ago have long since closed. Will I be able to sell the house?
In today’s world there are copies made of almost everything, and your lawyer should be aware exactly where to find all the appropriate paperwork so you may purchase or sell your property without a hitch. If duplicates are not available, your lawyer can put in place insurance or indemnities against possible claims on your premises.
I am looking for a flat up to £245,000 and identified one near me in Marston Moretaine I like with amenity areas and station in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Marston Moretaine for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current 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 with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.