We are buying a 1 bedroom flat in Merseyside with a mortgage. We have a Merseyside lawyer, but the mortgage company advise she’s not on their "panel". It appears that we have little option but to appoint one of the bank panel solicitors or continue with our Merseyside conveyancer as well as pay for one of their panel lawyers to represent them. This feels very unfair; are we not able to require that the bank use our Merseyside lawyer ?
No, not really. The mortgage offered to you 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 Merseyside conveyancing lawyer to apply to be on the conveyancing panel.
How does conveyancing in Merseyside differ for new build properties?
Most buyers of new build premises in Merseyside approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Merseyside typically purchase the real estate, 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 property lawyers 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 accustomed to new build conveyancing in Merseyside or who has acted in the same development.
I am looking for a leasehold apartment up to £235,500 and identified one near me in Merseyside I like with open areas and station nearby, however it only has 51 years on the lease. There is not much else in Merseyside in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor 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. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
As co-executor for the will of my uncle I am disposing of a house in Neath but I am based in Merseyside. My lawyer (who is 200 miles from meneeds me to sign a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Merseyside who can witness this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are Merseyside based
I am in the process of purchasing my 1st property in Merseyside. Conveyancing practitioner has been appointed. The mortgage adviser suggested that a survey is not necessary as the house is just 17 years old.
As the bare minimum you need a Home Buyer's Report. As the residence was built more than a decade ago the property will be without a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report may suffice. The report should highlight any apparent problems and suggest additional investigation if appropriate. If there are any indications of material issues seek a comprehensive Building Survey from the beginning.