My husband and I are purchasing a newbuild apartment in Broseley with a loan from Birmingham Midshires.We would like to retain our Broseley conveyancing solicitor but Birmingham Midshires says she’s not listed on their approved list of firms. We have to appoint a Birmingham Midshires panel solicitor or retain our high street solicitor and pay for a Birmingham Midshires panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan offered to you contains various provisions, one of which will be that lawyers must be on the Birmingham Midshires approved list. Until recently, most lenders had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for Birmingham Midshires
Is it correct that all Broseley CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
It is unclear whether my mortgage offer requires a lease extension. I have called into my local Broseley building society branch on numerous occasions and was told they are content with the situation and they will lend. My Broseley conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. I simply don't know who is right.
The property lawyer must follow the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer agreed on an apartment in Broseley. My financial adviser pressured me to appoint their solicitor. I paid an upfront payment of £175. A couple of days later, the lawyer contacted me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
2 months have gone by since my purchase conveyancing in Broseley took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Broseley differ for new build properties?
Most buyers of new build premises in Broseley approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Broseley tend to acquire the land, 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 conveyancing solicitors 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 Broseley or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Broseley before retaining solicitors. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies will refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Broseley. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you recommend a conveyancer for conveyancing in Broseley (or nearby)? It’s is for a remortgage.My wife and I had one lined up but just found out that they can't deal with Nationwide.
LenderPanel.com is limited to being a directory service for property lawyers who want to be listed as being on the approved conveyancing panel for Nationwide in certain locations for instance Broseley . We dont recommend any particular lawyer.