We are buying a 3 bedroom apartment in Stalybridge with a mortgage. We have a Stalybridge solicitor, however the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or retain our Stalybridge conveyancing practitioner as well as pay for one of their panel lawyers to represent them. This seems very unfair; can we not demand that the mortgage company use our Stalybridge conveyancer ?
Unfortunately,no. The mortgage offered to you 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 Stalybridge conveyancing lawyer to apply to be on the conveyancing panel.
Do lenders provide you with an approved list of Stalybridge conveyancing solicitors? How do you know who is on the HSBC conveyancing panel?
Stalybridge conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
We are buying a house and the lawyer has referenced Chancel Repair for which the house may be obligated to pay because it falls into the area of such a church. He has mentioned insurance. Is this really warranted for conveyancing in Stalybridge
Unless a previous purchase of the house took place after 12 October 2013 you may assume that solicitors conducting conveyancing in Stalybridge to continue to advocate a chancel search and or insurance against a claim.
How does conveyancing in Stalybridge differ for newly converted properties?
Most buyers of new build residence in Stalybridge come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Stalybridge typically buy the land, 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 Stalybridge or who has acted in the same development.
I opted to have a survey completed on a house in Stalybridge ahead of appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will not issue a loan on such a property.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Stalybridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stalybridge to see if the conveyancing costs will increase in light of this.