Me and my partner are purchasing a 2 bedroom apartment in Colney Hatch with a mortgage. We like our Colney Hatch solicitor, but the bank says he's not on their "panel". It appears that we have no choice but to appoint one of the lender panel solicitors or continue with our Colney Hatch property lawyer as well as pay for one of their panel ones to represent them. We regard this is unjust; can we not demand that the mortgage company use our Colney Hatch conveyancing practitioner ?
Unfortunately,no. 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. Another option that might be available is for your Colney Hatch conveyancing lawyer to apply to be on the conveyancing panel.
Are the Colney Hatch conveyancing solicitors identified as being on the Barclays conveyancing panel, together with their details provided by Barclays?
Colney Hatch conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would prefer to appoint a local conveyancing solicitor in Colney Hatch?
Do check but the the likelihood is that appoint one of their panel lawyers should you accept the "fee-free" deal. Contact the lender and see if they allow a monetary alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Colney Hatch.
I own a semi-detached Victorian property in Colney Hatch. Conveyancing lawyer represented me and Birmingham Midshires. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Colney Hatch and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing lawyer who conducted the conveyancing.
Due to the input of my in-laws I had a survey completed on a property in Colney Hatch ahead of instructing solicitors. I have been told that there is a flying freehold element to the property. The surveyor advised that some mortgage companies may refuse to issue a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Colney Hatch. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner has urged me to appoint his conveyancers in Colney Hatch. Do I follow his advice?
No doubt it’s preferable to select a conveyancing solicitor is to get feedback from friends or relatives who have actually previously instructed the conveyancer you're contemplating using.