Me and my wife are buying a leasehold flat in Wylam. My lawyer is not listed on the bank conveyancing panel. Can I still retain my Wylam conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel?
One will need to instruct a lawyer to deal with the formalities if you require a loan to buy your property. The conveyancing practitioner will conduct all the essential investigations on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage paperwork is in place. You could select a Wylam conveyancing practitioner of your choice. Nevertheless, if the conveyancer selected is not a member of the lender conveyancing panel further charges will arise as separate legal representation will be need by the lender. Lender panel applications may be submitted, so if your solicitor has not in the past sought membership they should take the opportunity to apply.
We note that you have a search directory identifying solicitors on the Clydesdale conveyancing panel. Do companies pay you a referral fee if I appoint them for our conveyancing in Wylam?
We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Wylam.
How does conveyancing in Wylam differ for new build properties?
Most buyers of new build premises in Wylam contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Wylam 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 conveyancing solicitors 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 Wylam or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Wylam ahead of instructing solicitors. I have been told that there is a flying freehold element to the house. The surveyor advised that some mortgage companies will refuse to issue a loan on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to telephone us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wylam. Conveyancing will be smoother if you use a solicitor in Wylam especially if they are familiar with such properties in Wylam.
My offer on house in Wylam has been agreed to, the seller does nevertheless have a tied purchase. The vendors have offered on a flat, but it’s not been accepted yet, and has viewings of other properties in the pipeline. I have chosen a local conveyancing lawyer in Wylam. What should be my next step? When do I get the mortgage application with Nottingham going with Nottingham?
It is standard to have anxieties where there is a chain given your reluctance to be too out of pocket too early (home loan application is in the region of £1k, then survey, Wylam conveyancing search costs, etc). First, you must check that your property lawyer is on the Nottingham conveyancing panel. Concerning the next phase this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a hot market many home buyers would apply for a home loan with Nottingham and arrange for the valuation and only if it comes back ok would they ask their lawyer to move forward with searches.