We are purchasing a 1 bedroom apartment in Gallows Corner with a mortgage. We would like to retain our Gallows Corner solicitor, but the lender advise she’s not on their "panel". We have to appoint one of the bank panel firms or retain our Gallows Corner conveyancer and pay for one of their panel lawyers to act for them. We regard this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Gallows Corner conveyancing solicitor to apply to be on the conveyancing panel.
It is a dozen years since I bought my home in Gallows Corner. Conveyancing solicitors have recently been appointed on the sale but I am unable to track down my deeds. Is this a problem?
You need not be too concerned. First there is a chance that the deeds will be with your lender or they may be in the possession of the solicitor who oversaw your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Most conveyancing in Gallows Corner relates to registered property but in the unlikely event that your property is unregistered it is more of a problem but is not insurmountable.
Do I have to pop into the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Gallows Corner so that I can pop in to their offices if required.
As opposed to twenty years ago, the vast majority mortgage companies no longer oblige their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to provide identification documents and there are still distinct benefits to using a local practitioner, in your case a conveyancing solicitor in Gallows Corner.
Me and my partner are buying a property in Gallows Corner. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am purchasing a property in Gallows Corner. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Coventry BS your lawyer must comply with the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Coventry BS where a lease does not satisfy these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Gallows Corner.
My offer was accepted on a house in Gallows Corner on 6/3/2024, valuation was booked 2 days after, received a clean bill of health. Property lawyer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Principality and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Principality conveyancing panel. Are Principality entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
A friend suggested that if I am purchasing in Gallows Corner I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Gallows Corner conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Gallows Corner around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Gallows Corner.
I have todayfound out that Action Conveyancing have been shut down. They conducted my conveyancing in Gallows Corner for a purchase of a leasehold flat 10 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The easiest method to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Gallows Corner conveyancing specialists.