My wife and I are planning to purchase a home in Walton on the Hill and are in fact using a Walton on the Hill conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Halifax have this morning contacted us to advise us that there is now an issue as our Walton on the Hill lawyer is not on their approved list of lawyers. Please explain?
If you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. 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 solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Walton on the Hill lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
I am due to exchange buying a property in Walton on the Hill but as a consequence of damage from the recent storms I have managed to agree recompense from the current proprietors in the sum of £2k by way of a deduction in the price. This was going to be addressed as part of amending the contract however Santander will not permit this. Why were they informed?
The conveyancer being on the Santander approved list is required to inform Santander of any variations to the sale price. If you were to refuse your conveyancer to notify the reduction to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new conveyancer for your conveyancing in Walton on the Hill.
Do all mortgage companies provide you with an approved list of Walton on the Hill conveyancing solicitors? How do you know who is on the TSB conveyancing panel?
Walton on the Hill conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I am buying a 3 bedroom semi in Walton on the Hill. We would like to carry out an extension to the side at the house.Will legal conveyancing on the property involve investigations to ascertain if these alterations were previously refused?
Your solicitor will check the registered title as conveyancing in Walton on the Hill will sometimes reveal restrictions in the title deeds which restrict certain works or necessitated the consent of a 3rd party. Some extensions require local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor prior to committing yourself to a purchase.
When it comes to mortgage companies such as Co-operative, do Walton on the Hill conveyancers face a yearly amount to be on the list of approved solicitors?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Nottingham have agreed my mortgage in principle, my bid on a house in Walton on the Hill has been accepted, what are the next steps?
Your estate agent will wish to be advised as to your property lawyer's details (make sure the conveyancers are on the lender’s panel). Telephone Nottingham or your broker and finalise any outstanding documentation. Nottingham will sellect a valuer who will get in touch with the estate agent or seller to schedule a time for the valuation to occur. Once carried out (assuming no problems) it takes on average a week to get a mortgage offer. Nottingham will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Walton on the Hill.
I am looking for a leasehold apartment up to £235,500 and found one near me in Walton on the Hill I like with amenity areas and station nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Walton on the Hill suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.