My wife and I are purchasing a 2 bedroom flat in Mill Hill with a mortgage. We have a Mill Hill solicitor, but the lender advise he's not on their "panel". It seems we have no option but to use one of the lender panel conveyancing practices or retain our Mill Hill solicitor as well as pay for one of their panel ones to act for them. We feel that this is inequitable; are we not able to require that the bank use our Mill Hill solicitor ?
No, not really. 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 Mill Hill conveyancing lawyer to apply to be on the conveyancing panel.
My lawyer has discovered a a legal deficiency with the lease for the property we are buying in Mill Hill. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that he must ensure that the bank is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I own a freehold premises in Mill Hill but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Mill Hill and has limited impact for conveyancing in Mill Hill 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 have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Our lender has recommended solicitors on their panel based in Mill Hill but I would rather choose a conveyancing lawyer in Mill Hill round the corner to me. Are you able to help?
The minority of Mill Hill conveyancing firms are approved and listed on all lender’s conveyancing panel. Please make the most of our find an approved solicitor tool to locate a Mill Hill conveyancing firm on the on the bank panel.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Mill Hill is the location of the property. Can you offer any opinion?
Flying freeholds in Mill Hill are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mill Hill you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mill Hill may ascertain 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 residence.
My step-father has suggested that I appoint his conveyancers in Mill Hill. Should I find my own property lawyer?
Much as we are happy to recommend a Mill Hill conveyancing lawyer the best way to find a conveyancing lawyer is to get guidance from friends or family who have actually previously instructed the solicitor that you are are thinking of instructing.