We wanted to use a conveyancing solicitor in Broadstone for our home move. Our financial adviser informed us that our mortgage lenders Barnsley Building Society won't deal with them. Surely this is unduly restrictive?
Pre- 2008 most mortgage companies had an appetite for risk which was higher than today. Almost all Broadstone conveyancing firms would have been on most mortgage company panels. The FSA in 2010 completed a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms concerning their operations and their employees as well as set certain criteria such a completing on a minimum number of conveyancing. Many Broadstone conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Broadstone is amongst the hundreds of locations where the lawyers we recommend are members of the panel for Barnsley Building Society.
My stepmother advised me that in purchasing a property in Broadstone there could be various restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Broadstone which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Broadstone should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is there a list of Yorkshire BS panel solicitors in Broadstone on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings viewable over the internet. If you are looking for a Broadstone lawyer on the Yorkshire BS please make the most of our facility.
I recently had an offer agreed on an apartment in Broadstone. My mortgage broker recommended their conveyancers. I paid an upfront payment of £200. Shortly after, the lawyer called me to say that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My partner and I are close to exchanging contracts on the sale of our property in Broadstone and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the buyers are using a national conveyancing practice rather than a conveyancing solicitor in Broadstone. We have lived in Broadstone for 4 years we know of no issue. Do we get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
How does conveyancing in Broadstone differ for newly converted properties?
Most buyers of new build residence in Broadstone approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is finished. This is because developers in Broadstone usually buy 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 used to new build conveyancing in Broadstone or who has acted in the same development.
I was pointed in your direction by a couple of local selling agents in Broadstone to find a solicitor using your seach tool. Is there a financial upside for Estate Agents to promote your site rather than a competitor’s?
We refuse to make any commission for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.