I can't travel far from Looe. I would like to know the understand why all Looe property lawyers are not on all lender panels?
As inequitable as it may seem for banks to limit who can act for them, from the public’s or conveyancer’s point of view, the flip side is that lending institutions are becoming ever more anxious and regard it vital to shield themselves against illegal activities. As a consequence of this concern lenders are limiting their conveyancing panel to a manageable size.
About to place a bid on a leasehold property in Looe. The property agents say that it is the norm for flats in Looe to have less than 75 years remaining. I am obtaining a mortgage with Bank of Ireland. Will the property be mortgageable given that the lease has Seventy One years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 17/10/2024 the requirements read as follows :
If you had a top tip for selecting a conveyancing solicitor in Looe what would it be?
Do not opt for the cheapest Looe conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We expect to receive a AIP from RBS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Looe solicitors on the RBS conveyancing panel, or is it better to go independently?
You will need to appoint Looe solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Looe solicitor on the Aldermore panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I need some quick conveyancing in Looe as I have a deadline to sign on the dotted line in less than 3 weeks. Luckily I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you have the choice not to do searches although no conveyancer would suggest that you don't. With lots of history conveyancing in Looe the following are examples of what can show up and therefore affect the marketability of the property: Refused Planning Applications, Overdue Charges, Overdue Grants, Railway Schemes,...
My fiance is purchasing a shared ownership flat in Looe. He has received a fee estimate by the property lawyer suggested by the estate agents totaling £1245 . It was ten years ago since I sold and purchased a property and the bill was £440. Have fees really gone up that much?
You should visit 3 or 4 local Looe conveyancing solicitors seeking estimates. You should base your choice not just on cost, but on promptness and on how comprehensive the response is.