Me and my partner are purchasing a 1 bedroom apartment in South Sutton with a mortgage. We would like to retain our South Sutton solicitor, however the mortgage company advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or keep our South Sutton conveyancing practitioner and pay for one of their panel firms to act for them. We regard this is inequitable; 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 South Sutton conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are purchasing a newly built flat in South Sutton and my solicitor is telling me that she is duty bound to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to sign contracts and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the South Sutton conveyancing solicitors identified as being on the HSBC conveyancing panel, together with their details provided by HSBC?
South Sutton conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
I have been on the look out for a flat up to £195,000 and identified one round the corner in South Sutton I like with a park and railway links nearby, however it only has 49 years on the lease. I can't really find anything else in South Sutton for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the shortness of the lease will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I am looking to sell my house. My previous lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in South Sutton if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in South Sutton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.