Having been referred to your company we were going to use a conveyancing solicitor in Norwood found by you but stumbled across alternative quotes via the web seem cheaper – how come?
There are hundreds of solicitors offering what appear to be cut price. Our recommendation is to think twice as to how important this transaction is to you that want to be penny wise pound foolish concerning the quality of the conveyancing. Many of them accentuate a cheap quote to grab your attention but bury additional fees in the fine print..
Are all Norwood Conveyancing Quality Solicitors on the Santander conveyancing list of approved solicitors?
A selection of lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
We have agreed to purchase a house in Norwood. An unusual aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Virgin Money your lawyer must follow the conveyancing instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Virgin Money where a lease does not comply with these conditions. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Norwood.
It is unclear whether my lender requires a lease extension. I have telephoned my Norwood bank branch on a couple of occasions and was told it wasn't a problem and they will lend. My Norwood conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend based on their specific requirements. Who do I believe?
Provided that the lawyer is on the bank panel, they must follow the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have been on the look out for a flat up to £235,500 and identified one close by in Norwood I like with open areas and station nearby, however it's only got 49 years on the lease. There is not much else in Norwood for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
How easy is it to swap firm as I have to instruct one who is on the Skipton Building Society conveyancing list. I was using a family conveyancing solicitor in Norwood five minutes from me but the firm is not accepted by Skipton Building Society
It would be our pleasure to help you select a conveyancing solicitor in Norwood on the Skipton Building Society panel. Please note that the law firms that we on the directory do not pay us a referral fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Norwood. In making use of search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Norwood.
My husband and I are one month into a leasehold purchase having been recommend to conveyancers by the selling agent to perform conveyancing in Norwood. I am not happy. Could you help me find new lawyers?
They would need to be really poor to suggest replacing them. Has the mortgage offer been generated? In the event that it has you must inform them of the replacement conveyancer and have the offer are re-issued. Your conveyancer needs to be on the mortgage company approved list to avoid escalating costs and frustration. That should be your starting point. Our search tool will help you find a bank approved solicitor for your conveyancing in Norwood