Mortgages

Domestic Mortgages

Most people borrow money from a bank or building society to help them buy their property. This is usually quite a substantial sum and the mortgage will be registered against the title of the property. If there are persons over the age of 18 years including your children living at the property who are not owners, they will need to sign a form of consent to the mortgage. They may need independent solicitors advice before they sign this form. They will need to sign that form before the mortgage is taken up by your Solicitor. You will also need to sign the mortgage deed, preferably in your Solicitor’s presence so that the terms of the mortgage can be explained to you and you understand the obligations that you are accepting by taking the mortgage.

Mortgage Panels

Every Buyer who needs a mortgage will seek support from a bank or other mortgage lender and these Lenders will use a Solicitor, either one that they select or if your solicitor is approved by your chosen lender then your solicitor will be appointed. The Mortgage Lenders need to approve every Solicitor who they appoint and when approved the solicitors are added to the Lenders Mortgage Panel after careful vetting. Nowadays nearly every lender makes it a condition of panel membership that Solicitors on their panels are Members of the Law Society Conveyancing Quality Scheme (CQS) if a solicitor firm is not a member of CQS then it is not likely to be appointed by the lender. WGS are accredited members of CQS and thus approved by all major lenders and also by most Secondary Lenders

Commercial Mortgages

Our Solicitors have considerable experience in assisting clients in finding Mortgage lenders for commercial transactions in representing lenders and borrowers in such mortgages and we act as principal solicitors for other lenders who instruct the firm to advise and represent them . This experience enhances our ability to assist borrower clients to address and source their financing requirements

Brokerage Fee and Accessibility to Mortgage Lenders

For a number of years it has been very difficult for many to obtain a mortgage from banks or at least to do so on reasonable terms as the number of products on offer from banks has been reduced, the number of banks lending has decreased and the security and additional collateral securities required by banks on the other hand have been increased. With our contacts with banks we are able to make introductions for clients to senior staff of various banks and to negotiate the best terms available.

Law Society Conveyancing Quality Scheme (CQS)

WGS Solicitors is an accredited firm in the Law Society Conveyancing Quality Scheme (CQS) which means the firm is approved to act for most Major Lenders in house purchases