My wife and I are purchasing a 2 bedroom apartment in Loughton with a mortgage. We have a Loughton lawyer, however the mortgage company advise she’s not on their "panel". It seems we have no option but to use one of the bank panel firms or continue with our Loughton solicitor as well as pay for one of their panel lawyers to represent them. This seems very unfair; are we not able to demand that the lender use our Loughton conveyancing practitioner ?
Unfortunately,no. 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. A further alternative is for your Loughton conveyancing lawyer to apply to be on the conveyancing panel.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Loughton?
There are many registered licenced Conveyancers in Loughton and Solicitor practices in Loughton to choose from We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. They may both also conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I have paid off my mortgage with RBS. I assume I don't need a Loughton property lawyer on the RBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS 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 RBS mortgage from the register. RBS, 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 RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
After what feels like an age I have had an offer on a flat in Loughton accepted, the owners do however have a tied purchase. The owners have placed an offer on somewhere, however it’s not been accepted yet, and have viewings of other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Loughton. What do I do now? At what point should I apply for the mortgage with Leeds Building Society?
It is normal to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then survey, Loughton conveyancing search costs, etc). The first thing to do is check that your lawyer is on the Leeds Building Society conveyancing panel. As to the subsequent phase this very much dictated by the circumstances of your case, attraction to the property and on the state of the market. In a hot market many buyers would apply for a home loan with Leeds Building Society and pay for the valuation and only if it was satisfactory would they pay their solicitor to move forward with searches.
Will commercial conveyancing searches reveal planned roadworks that could impact a commercial premises in Loughton?
Many commercial conveyancing solicitors in Loughton will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Loughton. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Loughton.
For every commercial conveyancing transaction in Loughton it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Loughton commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Loughton.
My wife and I own a 4 bedroom Victorian property in Loughton. Conveyancing solicitor acted for me and Skipton Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You should review 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 Loughton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing solicitor who conducted the purchase.
I opted to have a survey carried out on a house in Loughton in advance of instructing conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will not give a mortgage on this type of house.
It varies from the lender to lender. HSBC has different instructions from Nationwide. If you call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Loughton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Loughton to see if the conveyancing costs will increase in light of this.
I am one month into a freehold purchase having been referred to conveyancers by the high street agent to perform conveyancing in Loughton. We are not happy. Can you you assist me in finding new conveyancers?
They would have to be really poor in order to consider diss instructing them. Has your mortgage offer been issued? If so you need to advise them of the new solicitor and have the offer are issued to the new lawyers. Your conveyancer needs to be on the mortgage company approved list to avoid supplemental expenses and frustration. That should be your starting point. The search tool can help you find a lender approved conveyancer for your conveyancing in Loughton