My husband and I are purchasing a 2 bedroom flat in Shenley with a mortgage. We have a Shenley lawyer, but the mortgage company says he's not on their "panel". We have to appoint one of the lender panel firms or retain our Shenley solicitor and pay for one of their panel lawyers to represent them. We feel that this is inequitable; are we not able to insist that the lender use our Shenley conveyancing practitioner ?
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 Shenley conveyancing lawyer to apply to be on the conveyancing panel.
How does conveyancing in Shenley differ for new build properties?
Most buyers of new build residence in Shenley contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Shenley tend to purchase the site, 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 used to new build conveyancing in Shenley or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and found one near me in Shenley I like with open areas and station nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in Shenley suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Are there any apps to help identify a Shenley law firm on the Coventry Building Society conveyancing panel? I drive a motor bike and am happy to travel upto 25kilometers to meet the conveyancer.
Feel free to make use of the tool on this page. Please select a lender and your location and you will see a number of Shenley conveyancing lawyers locally. We have detailed some Shenley conveyancing firms at the bottom of this page and you can contact them to see if they are on the Coventry Building Society approved list
In searching the world wide web for the phrase on line conveyancing in Shenley it shows results of numerous solicitorslocally. With so much choice what is the best way to find the right conveyancing solicitor for my move?
The best method of finding the right conveyancer is via personal referral, so seek the guidance of colleagues and family who have purchased a property in Shenley or a local estate agent or mortgage broker. Charges for conveyancing in Shenley differ, so it's a good idea to request a minimum of three estimates from different property lawyers. Dont forget to clarify what costs in the quote includes.