We wanted to use a conveyancing solicitor in Brantham for our home move. Our financial adviser informed us that our mortgage lenders Alliance & Leicester won't deal with them. Surely this is unduly restrictive?
Pre- 2008 most mortgage companies had a different appetite for risk. Almost all Brantham conveyancing firms would have been on many bank panels. The FSA in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms relating to their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many Brantham conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Brantham is one of the thousands of areas where the solicitors we recommend are are authorised to act for Alliance & Leicester .
Is there a list of Nottingham panel solicitors in Brantham on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association sites. Very few mortgage companies make their panel listings available on the web. Where you are seeking to appoint a Brantham property lawyer on the Nottingham please use our tool.
My husband and I have organised a further advance on our home loan from Barclays as we wish to conduct a loft conversion to our home in Brantham. Are we obliged to appoint a bricks and mortar Brantham solicitor on the Barclays conveyancing panel to deal with the legals?
Barclays don't usually require a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays panel.
About to purchase house in Brantham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Brantham lawyer is on the Principality conveyancing panel.
I am looking for a ground for flat up to £235,500 and found one round the corner in Brantham I like with amenity areas and transport links nearby, however it's only got 49 remaining years left on the lease. There is not much else in Brantham in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
We're FTB’s - agreed a price, yet the property agent advised that the owners will only move forward if we instruct the agent's recommended lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street solicitor used to conveyancing in Brantham
It is highly unlikely the sellers are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Speak to the vendors direct and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you intend to use your preferred Brantham conveyancing lawyers - not the ones that will provide the negotiator at the agency a kickback or achieve conveyancing targets set by senior management.
My husband and I are purchasing a ground floor flat in Brantham. When we first instructed solicitor, they said that they were on all mainstream lender panels. Our mortgage broker emailed today to say that they don't appear to be on the Nationwide approved list. Were it to be true, what should we do? Do we just find a different conveyancing practitioner that is on their panel or should we pay for dual representation, with Nationwide selecting their own approved conveyancing practitioner.
When acquiring a property with mortgage finance it is usual for the buyer’s lawyers to also represent the mortgage company. In order to act for a bank or building society a lawyer has to be on that lender's conveyancing panel. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict conditions which the lawyer has to fulfill. Some mortgage companies now insist their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancing practitioner should call Nationwide to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Nationwide's conveyancing panel and you may continue to use your own Brantham solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.