My wife and I are planning to acquire a 2 bedroom apartment in Great Barford with a mortgage. We like our Great Barford conveyancer, however the mortgage company advise she’s not on their "panel". It appears that we have no choice but to appoint one of the lender panel solicitors or continue with our Great Barford conveyancing practitioner as well as pay for one of their panel ones to act for them. This feels very unfair; are we not able to demand that the bank use our Great Barford conveyancer ?
Unfortunately,no. 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 Great Barford conveyancing solicitor to apply to be on the conveyancing panel.
Is there a search tool that I can use to investigate if the solicitor conducting my conveyancing in Great Barford is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Godiva Mortgages Ltd thus paying £192.00 in additional legal costs.
Feel free to take advantage of the find a lender approved solicitor tool on this web page. Pick the mortgage company and type ‘Great Barford’ or your preferred area and you will be presented with a number of lawyer offices in Great Barford or by proximity to you.
How does conveyancing in Great Barford differ for newly converted properties?
Most buyers of new build premises in Great Barford contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Great Barford typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Great Barford or who has acted in the same development.
I decided to have a survey completed on a property in Great Barford ahead of retaining solicitors. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies will not give a loan on such a property.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Great Barford. Conveyancing will be smoother if you use a solicitor in Great Barford especially if they are acquainted with such properties in Great Barford.
I have been Googling for Great Barford conveyancing quotes online. Can I be sure that all the Great Barford practices that are identified on your site are on the mortgage company conveyancing panel?
The law firms on our directory have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific Great Barford firm being on the lender conveyancing panel is incorrect.