Me and my fiance are purchasing a 1 bedroom flat in Malpas with a mortgage. We like our Malpas lawyer, however the mortgage company says she’s not on their "panel". It appears that we have no choice but to appoint one of the bank panel solicitors or retain our Malpas conveyancer as well as pay for one of their panel firms to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Malpas conveyancing lawyer to apply to be on the conveyancing panel.
Do the conveyancing practitioners that you recommend carry out right to buy conveyancing in Malpas?
We work with numerous conveyancing lawyers who can conduct right to buy transactions You should call us in order to get a costs illustration.
The Malpas conveyancing solicitors that I recently instructed on my house acquisition in Malpas have suddenly shut down. I chose them because I had to have a solicitor on the HSBC conveyancing panel and my previous Malpas lawyer was not. I paid them money in advance. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
I decided to have a survey completed on a house in Malpas in advance of retaining lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend not issue a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Malpas. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Malpas to see if the conveyancing will be more expensive.
I was pointed in your direction by numerous selling agents in Malpas to locate a solicitor using your seach tool. What’s the financial upside for Estate Agents to recommend your site over another?
We refuse to give any referral fee for sending work to this site. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
We are hoping to buy a 2 bedroom flatin Malpas with a home loan from a lender. We have a solicitor in Malpas however our lender inform us now that he's not on their "panel". We have to appoint from the our mortgage company panel solicitors or stay with our Malpas solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The bank home loan issued is subject to its terms and conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels, including almost all conveyancing solicitors in Malpas : 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 solicitors to apply to be on the conveyancing panel for your mortgage company.