lenderpanel

Find a Witham Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Witham? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Witham conveyancing at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Witham conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Witham

My husband and I are purchasing a 2 bedroom flat in Witham with a mortgage. We would like to retain our Witham solicitor, but the bank advise he's not on their "panel". We have to appoint one of the lender panel solicitors or keep our Witham conveyancer as well as pay for one of their panel ones to act for them. This seems very unfair; can we not require that the bank use our Witham 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 Witham conveyancing solicitor to apply to be on the conveyancing panel.

I am purchasing my first flat in Witham with the aid of help to buy. The developers would not budge the price so I negotiated 6k of fixtures and fittings instead. The property agent told me not inform my lawyer about the deal as it would put at risk my mortgage with Virgin Money. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have been on the look out for a leasehold apartment up to £195,000 and identified one close by in Witham I like with a park and transport links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Witham for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you need a mortgage the shortness of the lease will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.

I need to instruct a conveyancing solicitor for leasehold conveyancing in Witham. I happened to land on a site which looks to be the perfect solution If it is possible to get all the legals done via web that would be ideal. Should I be wary? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am looking at a couple of apartments in Witham both have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease deteriorates and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena.

I inherited a 1 bedroom flat in Witham, conveyancing having been completed in 2002. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Witham with a long lease are worth £260,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2093

With only 74 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

Last updated

Find out more about how flying freehold can affect your the value of a property.