We are purchasing a 1 bedroom apartment in Custom House with a mortgage. We have a Custom House conveyancer, however the bank advise he's not on their "panel". We have to appoint one of the lender panel solicitors or retain our Custom House conveyancing practitioner and pay for one of their panel firms to represent them. We consider that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer 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 Custom House conveyancing solicitor to apply to be on the conveyancing panel.
My husband and I are buying a new build duplex in Custom House and my solicitor is informing me that she has to the mortgage company to disclose incentives from the developer. I am under pressure to sign contracts and I would rather not delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Why do I have to pay up front for my conveyancing in Custom House?
Where you are retaining lawyers for conveyancing in Custom House your solicitor will request that you to provide them with monies to cover the search fees. Normally this is needed to cover the fees of the conveyancing searches. If any down payment is payable against the sale price then this will be required shortly ahead of exchange of contracts. The final balance that is needed should be transferred shortly before completion.
4 months have elapsed since my purchase conveyancing in Custom House completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 premises 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.
In surfing the web for the term conveyancing in Custom House it shows results of numerous property lawyersin the area. With so much choice what is the best way to find the right solicitor for the sale of my house?
The preferential method of choosing a suitable conveyancer is via personal testimonial, so ask friends and those you trust who have bought a property in Custom House or a local estate agent or mortgage broker. Fees for conveyancing in Custom House vary, so it's advisable to obtain a minimum of four costs illustrations from varying types of law firms. Be sure to secure confirmation what costs in the quote includes.
Are there any apps to help search for a Custom House conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 20miles to attend the solicitor.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location, in this case Custom House and you will see a number of lawyer located nearest Custom House. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.