Me and my fiance are buying a 3 bedroom flat in Waterlooville with a mortgage. We like our Waterlooville solicitor, but the lender says he's not on their "panel". It seems we have no choice but to select one of the mortgage company panel solicitors or keep our Waterlooville conveyancing practitioner and pay for one of their panel firms to act for them. We regard this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you 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 Waterlooville conveyancing solicitor to apply to be on the conveyancing panel.
Is there a reason why leasehold purchase conveyancing in Waterlooville costs more?
Waterlooville leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I require quick conveyancing in Waterlooville as I am faced with an ultimatum to complete inside 4 weeks. Thankfully I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are not taking a home loan you are at liberty not to do searches although no solicitor would suggest that you don't. Drawing on our experience of conveyancing in Waterlooville the following are instances of issues that can crop up and adversely impact future saleability: Enforcement Actions, Outstanding Fees, Outstanding Grants, Road Schemes,...
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Waterlooville I like with amenity areas and transport links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Waterlooville for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
My husband and I are first time buyers - agreed a price, yet the agent advised that the seller will only go ahead if we appoint the agent's chosen conveyancers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor who is accustomed to conveyancing in Waterlooville
We suspect that the owner is unaware of this requirement. Should the seller desire ‘a quick sale', taking such a hostile approach to a motivated buyer is is going to put the whole deal at risk. Speak to the vendors direct and explain that (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you are going to instruct your own,trusted Waterlooville conveyancing solicitors - not the ones that will provide the negotiator at the agency a referral fee or hit his conveyancing thresholds pre-set by head office.