I plan on buying property in Paddock Wood. My property lawyer is not on the bank solicitor panel. Is it possible for me to appoint my Paddock Wood conveyancing solicitor even though they are excluded from the mortgage company approved list?
Various options include
- Carry on with your preferred Paddock Wood solicitor but your lender will need to use a conveyancing practitioner from their conveyancing panel. The net result is additional cost and probable interruption.
- Get a new solicitor to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your conveyancer to do everything within their powers to get accepted on the mortgage company conveyancing panel
Can you explain why leasehold purchase conveyancing in Paddock Wood costs more?
Paddock Wood leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I am planning to acquire a flat and require a conveyancing solicitor in Paddock Wood who is on the Leeds Building Society solicitor. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Leeds Building Society in certain locations such as Paddock Wood. We dont recommend any particular firm.
How does conveyancing in Paddock Wood differ for new build properties?
Most buyers of new build or newly converted property in Paddock Wood contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is built. This is because developers in Paddock Wood tend to 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 conveyancers 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 Paddock Wood or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Paddock Wood before retaining solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some lenders may refuse to give a loan on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Paddock Wood. Conveyancing may be slightly more expensive based on your lender's requirements.