My husband and I are hoping to acquire a 1 bedroom flat in Wickersley with a mortgage. We wish to retain our Wickersley lawyer, but the bank says he's not on their "panel". It appears that we have no choice but to instruct one of the bank panel solicitors or continue with our Wickersley property lawyer as well as pay for one of their panel ones to act for them. We regard this is unjust; can we not require that the lender use our Wickersley solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Wickersley conveyancing solicitor to apply to be on the conveyancing panel.
We're in Wickersley, First time buyers purchasing with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been on the look out for a flat up to £245,000 and identified one close by in Wickersley I like with open areas and railway links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Wickersley for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I'm converting the mortgage on my existing home to a buy to let loan with Coventry Building Society and I will use the rest of the raised equity as a deposit on further property. The area we are interested in is Wickersley. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Make use of our search tool on this site to ensure that the lawyers are on the relevant lender panels. Having checked that they are the lawyer will be able to simultaneously deal with the two deals but you should have a chat with you solicitor and make apparent your expectations and needs.
We are 14 days into a freehold purchase having been referred to conveyancers by the estate agent to carry out the conveyancing in Wickersley. I am am starting to be dissatisfied with the quality of service. Can you help me find new lawyers?
They would need to be really bad in order to consider changing them. Has your loan offer been generated? In the event that it has you will need to make them aware of the new lawyer and get the mortgage documents are issued to the new lawyers. Your new conveyancer should be on the lenders panel to avoid escalating charges and delays. So that should be your starting point. Our find a solicitor tool should help you find a bank approved solicitor for your conveyancing in Wickersley