My husband and I are hoping to buy a 2 bedroom apartment in Beadnell with a mortgage. We like our Beadnell lawyer, however the bank advise he's not on their "panel". We have to appoint one of the lender panel firms or keep our Beadnell property lawyer and pay for one of their panel lawyers to represent them. We feel that this is unjust; can we not insist that the lender use our Beadnell property lawyer ?
No, not really. Your mortgage offer 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 Beadnell conveyancing lawyer to apply to be on the conveyancing panel.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Co-operative Solicitor panel ahead of completing my conveyancing in Beadnell?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Despite weeks of looking the Title Certificate and documents to our property are lost. The conveyancers who dealt with the conveyancing in Beadnell 5 years ago are no longer around. What do I do?
Gone are the days when you need to hold title original deeds to prove you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Beadnell differ for new build properties?
Most buyers of new build or newly converted property in Beadnell contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Beadnell usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Beadnell or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Beadnell prior to retaining lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some lenders may not grant a mortgage on this type of property.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Beadnell. Conveyancing will be smoother if you use a solicitor in Beadnell especially if they are acquainted with such properties in Beadnell.
Is it the case that all Beadnell property lawyers on every lender conveyancing panel?
You can use our search tool or you can go into your local lender branch in Beadnell. the probability is that they can recommend conveyancing solicitors in Beadnell