Me and my fiance are purchasing a 2 bedroom flat in Longford with a mortgage. We have a Longford solicitor, but the bank advise she’s not on their "panel". It seems we have no choice but to appoint one of the mortgage company panel firms or keep our Longford lawyer as well as pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you 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. Another option that might be available is for your Longford conveyancing solicitor to apply to be on the conveyancing panel.
Do conveyancers request money up-front for conveyancing in Longford?
If you are buying a property in Longford your solicitor will request that you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the purchase price then this should be needed shortly before contracts are exchanged. The final balance that is due should be sent to your lawyer shortly before completion.
What happens if my lawyer’s firm is removed from the Kent Reliance Conveyancing panel ahead of completing my conveyancing in Longford?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
is it true that all Longford solicitors on the Leeds Building Society conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do list licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I have a mortgage with Clydesdale for my property in Longford. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Your original mortgage agreement with Clydesdale will provide that you need their approval in advance of renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel solicitor.
I have instructed a Longford conveyancer having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Longford surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am buying a new build apartment in Longford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Longford
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Longford is the location of the property. Can you offer any assistance?
Flying freeholds in Longford are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Longford you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Longford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.