I am obtaining a mortgage offer from Halifax. I would like to retain the legal services of a Licensed Conveyancer in Lingfield. Does the Halifax Conveyancing panel include conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My wife and I are approaching an exchange on a flat in Lingfield and my parents have sent the 10% deposit to my solicitor. I am now told that as the deposit has not come from me my conveyancer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your property lawyer is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
we are a couple who are buying a newbuild flat in Lingfield with a residential mortgage from Alliance & Leicester .We like our Lingfield conveyancing lawyer but Alliance & Leicester advised that his firm is not listed on their approved list of member firms. We have to appoint a Alliance & Leicester panel firm or retain our high street solicitor and fork out for a Alliance & Leicester panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Alliance & Leicester use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, one of which will be that conveyancers needs to be on the Alliance & Leicester approved list. Until recently, most lenders had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Alliance & Leicester
It has been 4 months following my purchase conveyancing in Lingfield completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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.
I decided to have a survey carried out on a house in Lingfield ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some lenders will refuse to issue a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lingfield. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lingfield to see if the conveyancing will be more expensive.
We are expecting to complete on the purchase a property in Lingfield but as a consequence of wreckage from the recent storms I have agreed compensation from the vendor of £3k by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process however the mortgage company will not permit this. Should they have been involved?
Any solicitor listed on a lender conveyancing panel is required to advise the mortgage company of any variations to the purchase amount. If you were to refuse your conveyancing practitioner to report the reduction to your mortgage company then they would have no choice but to refrain from acting for you and the mortgage company.