My husband and I are looking to purchase a property in Wantage and are in fact using a Wantage conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. HSBC Bank have this evening contacted us to advise us that there is now an issue as our Wantage conveyancer is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Wantage lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
How do I find out if the solicitor conducting my conveyancing in Wantage is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Yorkshire Building Society thus paying £175.00 in additional legal bill.
Feel free to make the most of the find a conveyancing panel solicitor tool on this web page. Pick the lender and type ‘Wantage’ or your preferred area and you will see numerous conveyancers based in Wantage or near you.
I have been on the look out for a flat up to £245,000 and identified one near me in Wantage I like with amenity areas and railway links nearby, however it only has 61 years unexpired on the lease. There is not much else in Wantage suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
Are there any apps to assist me to identify a Wantage law firm on the Yorkshire Building Society conveyancing panel? I have a car and am happy to travel upto 10kilometers to meet the conveyancer.
Feel free to make use of the tool on this page. Please select a bank and your location and you will see a number of Wantage conveyancing lawyers based on proximity. We have listed some Wantage conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Yorkshire Building Society member panel
My mother and father cant seem to find their Wantage property on the HM Land Registry website. They have a vague memory sixty years ago when they bought the house there were complications concerning the address not being identified on some systems.
Almost all residences in Wantage should appear. Have you endevoured to search to simply the postcode. Normally it should disclose all the houses and flats inside that postcode. Assuming the property is registered it will show up with a title number. If they bought back in the 60’s it's conceivable it may be not yet registered. The address may still be revealed but with the title number shown 'na'. In this scenario you will need to locate the original title deeds which could be with your parent’s lender.