Me and my partner are hoping to buy a 1 bedroom apartment in Wooburn Green with a mortgage. We like our Wooburn Green solicitor, however the bank says she’s not on their "panel". It seems we have little choice but to use one of the mortgage company panel solicitors or retain our Wooburn Green conveyancer as well as pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. 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. Another option that might be available is for your Wooburn Green conveyancing solicitor to apply to be on the conveyancing panel.
Can I be sure that the Wooburn Green conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Wooburn Green seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your conveyancing.
We have a mortgage agreed in principle with Bank of Ireland. Wooburn Green conveyancing solicitors were chosen. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland conducted the survey? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm spending time looking at houses in Wooburn Green and I am now considering a potential offer. Is it best to have my lawyer on ‘stand by’? I will be getting a mortgage with Skipton.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are getting a mortgage with Skipton, ask your prospective lawyers if they are on the Skipton conveyancing panel otherwise they can't do the mortgage legal work.
I am buying a new build house in Wooburn Green with a loan from Norwich and Peterborough Building Society. The builders refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not to tell my lawyer about this extras as it could impact my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
In what way does the Landlord & Tenant Act 1954 impact my business premises in Wooburn Green and how can you help?
The 1954 Act provides a safeguard to commercial tenants, granting the a statutory right to apply to court for a renewal tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Wooburn Green is one of our many locations in which our lawyers are located
I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Wooburn Green. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Wooburn Green ?
The majority of houses in Wooburn Green are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Wooburn Green in which case you should be shopping around for a Wooburn Green conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.