My fiance and I are intent on acquiring a leasehold flat in Lambeth. My Solicitor is not on the bank conveyancing list. Can I still retain my Lambeth conveyancing solicitor even though they are excluded from the bank list of approved lawyers?
You must have a conveyancing practitioner to deal with the formalities when you need a mortgage to purchase your home. They will carry out all the necessary investigations on the property, make sure that you’re registered as proprietor and ensure that all the necessary mortgage paperwork is dealt with. You could appoint a Lambeth property lawyer of your choice. However, where the conveyancing practitioner appointed is not on the mortgage company solicitor panel supplemental charges will arise as separate legal representation will be need by the mortgage company. Conveyancing panel applications can be submitted, so provided your lawyer has not historically applied for membership they should take the chance to apply.
Our Lambeth solicitor has discovered a difference between the surveyor’s assumptions in the home valuation report and what is revealed within the conveyancing documents. My solicitor informs me that he is obliged to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am mortgaging my house in Lambeth, does my lawyer have to be on the Virgin Money Solicitor panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
We previously appointed conveyancers based in Lambeth on the TSB solicitor panel. They have just billed me a further fee for dealing with the TSB mortgage. Is this a supplemental conveyancing fee specified by TSB?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your property lawyer may levy a fee for this. The fee is not dictated by TSB but by your Lambeth lawyer. Numerous firms on the TSB panel will charge ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Lambeth lawyer on the Principality panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Lambeth bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Lambeth conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their specific requirements. I simply don't know who is right.
Your property lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Me and my brother own a semi-detached Victorian property in Lambeth. Conveyancing solicitor acted for me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should 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 Lambeth and other locations in 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 mortgage companies. You can also check the position with your conveyancing solicitor who conducted the purchase.
My brother has suggested that I appoint his conveyancers in Lambeth. Should I use them?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to get recommendations from friends or relatives who have experience in using the solicitor you're contemplating using.