We are planning to purchase a 3 bedroom apartment in Charmouth with a mortgage. We have a Charmouth solicitor, however the lender says he's not on their "panel". We have to appoint one of the bank panel solicitors or retain our Charmouth conveyancer and pay for one of their panel ones to act for them. This feels very unfair; can we not demand that the mortgage company use our Charmouth solicitor ?
No, not really. The mortgage offered to you 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 Charmouth conveyancing lawyer to apply to be on the conveyancing panel.
I am only a couple days away from an exchange on a property in Charmouth and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now told that as the deposit has not come from me my property lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your property lawyer is obliged to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Our lender has suggested a law firm on their panel based in Charmouth but I would rather choose a conveyancing lawyer in Charmouth or nearer to where I live. Are you able to help?
It is by no means the case that all Charmouth conveyancing solicitors are listed all lender’s conveyancing panel. Please make use of our find an approved solicitor tool to find a Charmouth conveyancing conveyancer on the on the lender panel.
How does the Landlord & Tenant Act 1954 affect my business offices in Charmouth and how can you help?
The particular law that you refer to provides protection to business tenants, granting the legal entitlement to apply to court for a renewal lease and remain in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Charmouth is one of the numerous locations in which the firms we work with are based
We're new to the buying process - agreed a price, yet the estate agent advised that the owners will only proceed if we appoint the agent's preferred lawyers as they want a ‘quick sale’. We would rather use a local solicitor with experience of conveyancing in Charmouth
It is highly unlikely the owners are behind this. Should the vendor require ‘a quick sale', alienating a serious purchaser is going to damage their objectives. Bypass the agents and go straight to the owners and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to instruct your own,trusted Charmouth conveyancing firm - not the ones that will earn the estate agent a kickback or meet his conveyancing targets demanded by senior management.
Me and my wife accepted an offer on a Charmouth flat left to us 5 years ago in 2012. I have over a decades worth of conveyancing knowledge and, now retired, intend to carry out my own conveyancing. The buyer's lawyer has informed me that their Lenders will not allow you to do your own conveyancing as they require the funds to be transferred to a solicitor's bank account.
Lending instructions to solicitors from all CML members state that If the seller is not legally represented the buyer’s lawyers should check whether the lender needs to be notified so that a decision can be reached as to whether they are prepared to proceed.