My husband and I are planning to buy a 3 bedroom apartment in Chatham with a mortgage. We would like to retain our Chatham conveyancer, but the bank says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Chatham conveyancer as well as pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. 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 Chatham conveyancing lawyer to apply to be on the conveyancing panel.
It is 10 years ago since I acquired my house in Chatham. Conveyancing lawyers have now been appointed on the sale but I am unable to find my deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a chance that the deeds will be retained by the mortgage company or they could still be with the lawyers who acted in your purchase. Secondly the likelihood is that the property will be registered 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 Chatham involves registered property but in the unlikely event that your home is unregistered it is more problematic but is not insurmountable.
we are a couple who are buying a purpose built flat in Chatham with a loan from Chelsea Building Society.We like our Chatham conveyancing practitioner but Chelsea Building Society says her practice is not listed on their approved list of firms. It seems we are left with no choice but to instruct a Chelsea Building Society panel lawyer or keep our high street solicitor and pay for a Chelsea Building Society panel lawyer to represent them. This seems very unfair; Can we not simply insist that Chelsea Building Society use our lawyer?
Unfortunately,no. The home loan issued to you contains various provisions, a common one being that lawyers needs to be on the Chelsea Building Society conveyancing panel. Until recently, most banks had large numbers of law firms on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Chelsea Building Society
My wife and I have organised the release of further monies on our home loan from Santander as we want to conduct renovations to our property in Chatham. Are we obliged to choose a high street Chatham solicitor on the Santander conveyancing panel to deal with the legals?
Santander would not normally require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander conveyancing panel.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Chatham conveyancer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS 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 Yorkshire BS mortgage from the register. Yorkshire BS, 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 Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
Our sealed bid on a detached house in Chatham has been accepted, the sellers do nevertheless have a connected purchase. The sellers have offered on on an apartment, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have selected a local conveyancing solicitor in Chatham. What do I do now? At what stage should I apply for the mortgage with Nottingham?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then valuation, Chatham conveyancing search charges, etc). The first course of action is to ensure that your solicitor is on the Nottingham conveyancing panel. Regarding the next steps this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. During a rising market some buyers will apply for the mortgage with Nottingham and pay for the valuation and only if it comes back ok would they ask their conveyancer to press on with searches.
I am buying a new build apartment in Chatham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Chatham
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There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan.
I have instructed a Chatham conveyancing solicitor for our house purchase (FTB’s) and have picked up in the Ts and Cs that they are not governed by the FCA. Am I right to be concerned or is that standard with lawyer?
We can't see why they should be. Most lawyer don't lend money. They will be regulated by the Solicitors Regulation Authority, who dictate specific rules in place on amounts sitting in their bank.