We are purchasing a 1 bedroom apartment in Bedminster with a mortgage. We have a Bedminster lawyer, however the mortgage company says he's not on their "panel". It appears that we have little option but to instruct one of the mortgage company panel solicitors or continue with our Bedminster property lawyer and pay for one of their panel ones to act for them. This seems very unfair; can we not require that the mortgage company use our Bedminster lawyer ?
Unfortunately,no. 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. A further alternative is for your Bedminster conveyancing lawyer to apply to be on the conveyancing panel.
Can conveyancing in Bedminster to be concluded within 3 weeks?
In the event that the seller is applying pressure for your conveyancing it is advisable to make sure that your solicitor is familiar with the area as they will make use of local contacts and insight. It is possible that they would have conducted otherhouses in the same road. Therefore consider using a Bedminster conveyancing solicitor. In addition, make sure that the conveyancing firm is on the lender panel. It is claimed that 18% of Bedminster conveyancing deals are delayed or jeopardised after discovering a purchaser’s lawyer was not on their banks member panel. This can often result in the conveyancing being held up by as much as three weeks. It is believed that this issue impacts approximately one hundred thousand home sales every year. Most Bedminster conveyancing practices can not represent certain lenders so do check as early as possible.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Bedminster so that I can attend their offices if required.
Whereas this was necessary 12 years ago, most banks no longer require their conveyancing panel lawyer to witness the mortgagors signature. It will still be necessary for you to provide ID documents and there are still manifest advantages to choosing a locally based practitioner, in your situation a conveyancing solicitor in Bedminster.
We had appointed conveyancing lawyers located in Bedminster on the TSB solicitor panel. They are now charging me a further charge for handling the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner may charge a fee for this. This fee is not set by TSB but by your Bedminster conveyancer. Plenty of firms on the TSB panel will quote an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
We are getting a further advance on our home loan from Skipton as we want to carry out improvements to our property in Bedminster. Are we obliged to appoint a nearby Bedminster solicitor on the Skipton conveyancing panel to handle the legals?
Skipton would not normally require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
I have paid off my mortgage with Principality. I assume I don't need a Bedminster solicitor on the Principality panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I am looking for a leasehold apartment up to £245,000 and identified one near me in Bedminster I like with open areas and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Bedminster suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be an issue. Discount the price by the amount the 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 ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
I yesterday found out that one of the partners of the firm handling the purchase conveyancing in Bedminster is an aunty of the owners that we are purchasing from. Is this allowed?
On the basis that there is no conflict of interest this is permitted. Where you are needing a home loan then the lender may have a say as many lenders have specific instructions concerning this. For example for Royal Bank of Scotland as of 14/4/2024, the requirements read as follows :