My husband and I are buying a 2 bedroom flat in Chelsea with a mortgage. We have a Chelsea conveyancer, however the bank says she’s not on their "panel". It appears that we have little choice but to appoint one of the lender panel conveyancing practices or continue with our Chelsea conveyancer as well as pay for one of their panel ones to act for them. This seems very unfair; are we not able to insist that the lender use our Chelsea property lawyer ?
Unfortunately,no. The mortgage offered to you 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 Chelsea conveyancing lawyer to apply to be on the conveyancing panel.
I am considering applying for a TSB mortgage for purchase of a new build (under development) in Chelsea with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
What is your number one tip for choosing a conveyancing solicitor in Chelsea
Do not opt for the lowest Chelsea conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Chelsea. Do I receive the keys to the house on the completion date from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Chelsea?
On the day of completion you will not be required to go to the conveyancers office in Chelsea. Your solicitors will arrange to send the purchase money to the owner’s solicitors, and once they have received this, you will be called to collect the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.
I was told four weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Chelsea is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Me and my brother own a terraced Victorian property in Chelsea. Conveyancing lawyer acted for me and Birmingham Midshires. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chelsea and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing solicitor who carried out the work.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Chelsea I like with open areas and transport links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Chelsea for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
As co-executor for the will of my aunt I am selling a property in Newport but I am based in Chelsea. My conveyancer (based 200 miles from merequires that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Chelsea who can attest this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are Chelsea based