Me and my fiance are acquiring a maisonette in Whitton. My property lawyer is not on the bank conveyancing panel. Can I still retain my Whitton conveyancing solicitor even though they are not on the mortgage company approved list?
You will need to use a solicitor to deal with the legal work required when you need a loan to purchase your home. The lawyer will carry out all the essential due diligence on the property, ensuring that you’re registered as proprietor and ensure that all the required mortgage documentation is in place. You may select a Whitton lawyer of your choosing. Nevertheless, where the conveyancer selected is not on the lender conveyancing panel supplemental fees will be levied as separate legal representation will be need by the lender. Lender panel applications can be submitted, so provided your lawyer has not previously applied for membership they should take the opportunity to apply.
My son is buying a new build apartment in Whitton with a home loan from Nationwide. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are getting the release of further funds on our home loan from Leeds Building Society as we want to carry out alterations to our property in Whitton. Are we obliged to select a nearby Whitton solicitor on the Leeds Building Society conveyancing panel to deal with the paperwork?
Leeds Building Society do not ordinarily require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
Last month we had a mortgage agreed in principle with Principality. Whitton conveyancing solicitors are appointed. What is the average time that one could expect to receive a mortgage offer from Principality?
Some lenders take longer than others. Have Principality done the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I was told four weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Whitton is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Wolstenholmes several years past for my conveyancing in Whitton. I now require my papers however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Whitton of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £245,000 and found one near me in Whitton I like with open areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Whitton in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.