My husband and I are buying a 3 bedroom flat in Shefford with a mortgage. We like our Shefford lawyer, however the lender advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Shefford property lawyer as well as pay for one of their panel ones to represent them. We consider that this is unjust; are we not able to require that the bank use our Shefford conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Shefford conveyancing lawyer to apply to be on the conveyancing panel.
My mortgage company has suggested solicitors on their panel based in Shefford but I would rather instruct a conveyancing lawyer in Shefford or nearer to where I live. Are you able to assist?
It is by no means the case that all Shefford conveyancing firms are on all lender’s conveyancing panel. Use the above find an approved solicitor tool to locate a Shefford conveyancing solicitor on the on the lender panel.
A relative advised me that in buying a property in Shefford there may be various restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Shefford which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Shefford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My partner and I have organised a further advance on our home loan from Skipton as we want to carry out alterations to our house in Shefford. Are we obliged to appoint a high street Shefford solicitor on the Skipton conveyancing panel to deal with the paperwork?
Skipton do not ordinarily require a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
After much negotiation I have agreed a price on a house in Shefford. My financial adviser suggested a conveyancing practitioner. I paid an advanced payment of £200. A few days later, the solicitor called me to say that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am on look out for some leasehold conveyancing in Shefford. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Shefford - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a studio flat in Shefford, conveyancing having been completed December 2005. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Shefford with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2079
With only 58 years remaining on your lease the likely cost is going to be between £23,800 and £27,400 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
My husband and I have an offer in principle from Accord Mortgages Ltd who said that they will lend up to £300k. When do we need to appoint a practitioner for conveyancing? Shefford is where we are purchasing.
It would be wise to appoint a conveyancing practitioner now so that the conveyancer can open the file so they can commence their ID checks etc. As and when you wish them to commence work they will seek a payment on account normally approximately £225. That would normally be once you have the loan offer from the bank and valuation report, nevertheless if you wish to expedite the process you can start quicker even though you may be risking some expense.