It has come to my attention via my mortgage adviser that my Westhoughton property lawyer is not on the bank Solicitor panel. How can I check?
The first thing you need to do is to contact your Westhoughton lawyer directly. It is reasonable to expect your lawyer to notify you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
Is it the case that all Westhoughton conveyancing solicitors on the Lloyds conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Lloyds conveyancing panel they would need to be overseen by the SRA. Many banks do list licenced conveyancers on their panel and in that case the firms would be regulated by the Council of Licensed Conveyancers.
We previously appointed conveyancers based in Westhoughton on the UBS solicitor approved list. They are now charging me a further amount for dealing with the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your conveyancing practitioner can levy a fee for this. The fee is not dictated by UBS but by your Westhoughton lawyer. Plenty of firms on the UBS panel will levy ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
Virgin Money have agreed my mortgage in principle, my offer on a flat in Westhoughton has been agreed to, what happens next?
Your estate agent will need to be informed of your conveyancing practitioner's details (ensure that the property lawyers are on the lender’s approved list). Contact Virgin Money or the broker and finalise any outstanding paperwork. Virgin Money will appoint a valuer who will get in contact with the selling agent or vendor to book a time for the valuation to happen. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. Virgin Money will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Westhoughton.
Will our conveyancer be raising questions about flooding as part of the conveyancing in Westhoughton.
The risk of flooding is if increasing concern for lawyers dealing with homes in Westhoughton. Some people will acquire a house in Westhoughton, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a number of checks that may be carried out by the purchaser or by their conveyancers which will figure out the risks in Westhoughton. The standard completed inquiry forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the owner to determine if the property has ever been flooded. In the event that the residence has been flooded in past which is not disclosed by the seller, then a purchaser may issue a compensation claim resulting from an misleading answer. A buyer’s conveyancers may also order an enviro search. This should reveal if there is any known flood risk. If so, additional inquiries will need to be made.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one near me in Westhoughton I like with amenity areas and transport links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Westhoughton for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage that many years may be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I am looking into buying my first house which is in Westhoughton and I am already nervous. I couldn't find anything specific about Westhoughton. Conveyancing will be needed in due course but do you know about the Westhoughton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Westhoughton. In the meantime here are some basic statistics that we found