We are planning to purchase a 2 bedroom apartment in Holywell with a mortgage. We wish to retain our Holywell conveyancer, however the bank advise he's not on their "panel". We have to appoint one of the lender panel solicitors or retain our Holywell conveyancer as well as pay for one of their panel ones to act for them. We regard this is inequitable; are we not able to insist that the lender use our Holywell lawyer ?
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 Holywell conveyancing lawyer to apply to be on the conveyancing panel.
After looking at consumer advice sites for an online solicitor in Holywell, most advise that I should use a CQS kitemarked lawyer. Can you explain what CQS is?
Holywell Conveyancing Quality Scheme law firms have obtained accreditation by the law Society The Law Society introduced CQS to promote high standards in the in the legal transfer of properties. CQS enables consumers to identify solicitor firms who provide a quality residential conveyancing. Holywell is one of the many areas in England and Wales in which accredited firms are located. The scheme requires solicitors to undergo a strict assessment, compulsory training, self-certification, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Holywell I like with open areas and station in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Holywell for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may 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 lawyer regarding this matter.
What does commercial conveyancing in Holywell cover?
Commercial conveyancing in Holywell incorporates a broad range of advice, given by qualified solicitors, relating to business premises. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
We're new to the buying process - had an offer accepted, yet the agent informed us that the vendor will only move forward if we use their chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a high street solicitor with experience of conveyancing in Holywell
We suspect that the owner is unaware of this requirement. If they want ‘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 serious buyers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Holywell conveyancing lawyers - not the ones that will earn their negotiator at the agency a introducer fee or achieve conveyancing thresholds demanded by corporate headquarters.