I am expecting a mortgage with Halifax. I would like to retain the legal services of a Licensed Conveyancer in Mitcham. Does the Halifax Conveyancing panel allow for conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am considering applying for a Lloyds mortgage for purchase of a new build (under development) in Mitcham with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Lloyds ?
There is nothing to stop you using your solicitor, but Lloyds will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I own a terraced Victorian house in Mitcham. Conveyancing solicitor represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to read 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 Mitcham and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing solicitor who carried out the work.
How does conveyancing in Mitcham differ for new build properties?
Most buyers of new build property in Mitcham contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Mitcham tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Mitcham or who has acted in the same development.
I decided to have a survey done on a property in Mitcham before instructing solicitors. I have been told that there is a flying freehold element to the property. The surveyor advised that some mortgage companies will not issue a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Mitcham. Conveyancing may be slightly more expensive based on your lender's requirements.
I was recommended by a couple of local property agents in Mitcham to choose a solicitor using your seach tool. Is there a financial upside for Estate Agents to market your site rather than alternative conveyancing organisations?
We refuse to give any commission for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.