My partner and I are purchasing residence in Wool. My property lawyer is not on the bank solicitor panel. Can I still retain my Wool conveyancing solicitor even though they are not on the mortgage company panel of approved conveyancing solicitors?
You will need to appoint a solicitor to complete the legal work required when you require a mortgage to purchase your property. The conveyancer will conduct all the necessary due diligence on the property, ensuring that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. You can appoint a Wool solicitor of your choice. However, where the conveyancer appointed is not a member of the mortgage company solicitor panel supplemental charges will arise as separate legal representation will be need by the lender. Conveyancing panel applications can be submitted, so if your solicitor has not historically sought membership they should do so.
As a novice what is the most important piece of guidance you can impart about purchase conveyancing in Wool?
Not many law firms shout this from the rooftops but conveyancing in Wool or throughout Dorset is often a confrontational experience. Put another way, when it comes to conveyancing there exists lots of opportunity for friction between you and others involved in the transaction. For instance, the seller, property agent and sometimes the lender. Choosing a lawyer for your conveyancing in Wool an important selection as your conveyancer is your adviser, and is the ONE party in the legal process whose role it is to look after your best interests and to protect you.
We are witnessing a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. We recommend that you must always trust your solicitor above all other parties when it comes to the legal assignment of property.
Is it the case that all Wool CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
A selection of lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
The formalities of my remortgage has taken place for my property in Wool. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Nationwide have agreed my home loan in principle, my bid on a apartment in Wool has been accepted, now what?
Your estate agent will need to know who your solicitors are (be sure the solicitors are on the lender’s approved list). Call up Nationwide or the broker and complete any appropriate paperwork. Nationwide will appoint a valuer who will get in contact with the estate agent or seller to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Nationwide will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Wool.
Is it possible to swap firm as I have to choose a firm on the Virgin Money conveyancing panel. I was using a high street conveyancing solicitor in Wool five minutes from me but he is not accepted by Virgin Money
It would be our pleasure to help you select a conveyancing solicitor in Wool on the Virgin Money panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Wool. Using search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Wool.
I am looking at a couple of maisonettes in Wool which have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Wool. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorates and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena.
Wool Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
Are any of leasehold owners in dispute over their service charge liability? Its a good idea to find out as much as possible regarding the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the tidiness of the communal areas. You should not be shy to ask other tenants if they are happy with them. Finally, investigate as to the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending that money. It is important to be aware whether fixing the lift or some other significant cost is coming up to be shared by the leasehold owners and will dramatically impact the level of the maintenance charges or result in a one off payment.