Me and my fiance are hoping to purchase a 1 bedroom flat in Leegomery with a mortgage. We would like to retain our Leegomery solicitor, but the bank advise he's not on their "panel". We have to appoint one of the lender panel firms or retain our Leegomery conveyancer and pay for one of their panel lawyers to act for them. We regard this is unjust; can we not demand that the mortgage company use our Leegomery conveyancer ?
Unfortunately,no. 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 Leegomery conveyancing lawyer to apply to be on the conveyancing panel.
I own a freehold house in Leegomery but nevertheless pay rent, why is this and what is this?
It is rare for properties in Leegomery and has limited impact for conveyancing in Leegomery but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
We are getting the release of further monies on our home loan from Virgin Money as we want to conduct renovations to our house in Leegomery. Do we need to appoint a nearby Leegomery solicitor on the Virgin Money conveyancing panel to handle the legals?
Virgin Money do not ordinarily require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money conveyancing panel.
We have a mortgage agreed in principle with Santander. Leegomery conveyancing lawyers were chosen. How long does it take for Santander to forward the offer to the conveyancing practitioner?
There is no definitive answer here. Have Santander completed the survey? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer accepted on a house in Leegomery. My financial adviser suggested a conveyancing practitioner. I paid an upfront payment of £175. Shortly after, the solicitor contacted me to say that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Me and my brother own a 4 bedroom Georgian property in Leegomery. Conveyancing solicitor represented me and Santander. 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 with the exact same property. Is it worth asking Santander to clarify?
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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Leegomery 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 lenders. You can also question the position with the conveyancing lawyer who conducted the conveyancing.
I am purchasing my first flat in Leegomery with a mortgage from Nationwide Building Society. The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not reveal to my lawyer about this deal as it will affect my mortgage with Nationwide Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Do I need to be wary about brokers that I am dealing with are recommending a web based conveyancing firm rather than a local Leegomery conveyancing practice?
As is the case with many professional services, often recommendations from relatives can be worth their weight in gold. But there are many parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and lenders may suggest lawyers to retain. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the discretion to appoint your preferred lawyer. However, bear in mind that most mortgage providers specify a panel list of conveyancers you are obliged to use for the lender aspect of your house move.