Me and my partner are purchasing a 2 bedroom apartment in Millbank with a mortgage. We have a Millbank solicitor, however the bank advise he's not on their "panel". It seems we have little choice but to instruct one of the bank panel firms or continue with our Millbank solicitor and pay for one of their panel ones to act for them. We feel that this is inequitable; can we not require that the lender use our Millbank property lawyer ?
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 Millbank conveyancing lawyer to apply to be on the conveyancing panel.
I am selling my flat in Millbank. Will my solicitor have to be required to be on the Nationwide conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently in recent years.
Is it the case that all Millbank solicitor firms on the TSB conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the TSB conveyancing panel they would need to be overseen by the SRA. Some banks do allow licenced conveyancers on their panel in which case such practice would be governed by the Council of Licensed Conveyancers.
The formalities of my remortgage has taken place for my property in Millbank. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I can not work out if my lender requires a lease extension. I have called into my local Millbank building society branch on various occasions and was told they are content with the situation and they would lend. My Millbank conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their specific requirements. I simply don't know who is right.
As long as the conveyancing practitioner is on the bank panel, she or he must comply with the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Will commercial conveyancing searches reveal impending roadworks that could affect a commercial premises in Millbank?
Many commercial conveyancing solicitors in Millbank will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Millbank. The report 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 Millbank.
For every commercial conveyancing transaction in Millbank it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Millbank commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Millbank.
I'm converting the mortgage on my current home to a buy to let mortgage with Yorkshire Building Society and intend to use the remaining equity towards a second house. The area we are interested in is Millbank. Will your solicitors be able to act for the two banks and link together the transactions?
Make use of our comparison tool on this page to check that the conveyancers are on the appropriate lender panels. On the basis that they are the lawyer will be able to simultaneously deal with the two deals but you should talk with you conveyancer and specify your desired outcome and needs.
My wife and I may need to rent out our Millbank garden flat temporarily due to a career opportunity. We instructed a Millbank conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
A lease governs the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Millbank do not contain subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Millbank. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Lease Extension decision for a Millbank property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The unexpired term was 56 years.