My wife and I are hoping to purchase a 3 bedroom apartment in Oldland with a mortgage. We wish to retain our Oldland solicitor, but the lender advise she’s not on their "panel". It appears that we have little option but to select one of the lender panel conveyancing practices or keep our Oldland property lawyer as well as pay for one of their panel firms to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer 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 Oldland conveyancing solicitor to apply to be on the conveyancing panel.
I do hope you can assist me. My Oldland conveyancer is assuring me that she is duty bound toconduct Oldland conveyancing searches asthe firm are on the Santandersolicitor panel. Is my solicitor correct?
You have limited options available to you. As you are taking a home loan with a bank your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Oldland conveyancing searches.
How does conveyancing in Oldland differ for new build properties?
Most buyers of new build property in Oldland come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Oldland usually buy the land, 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 property lawyers 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 Oldland or who has acted in the same development.
I am looking for a conveyancing lawyer in Oldland for my house move. Can I see a solicitor's complaints history with the legal regulator?
Anyone can find documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training requirements.
What are the common problems that you witness in leases for Oldland properties?
Leasehold conveyancing in Oldland is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.
Oldland Leasehold Conveyancing - Sample of Questions you should ask before buying
Its a good idea to find out as much as you can about the company managing the building as they will either make your living at the property much easier or uncomfortable. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical matters like the upkeep of the communal areas. You should not be shy to ask other tenants what they think of them. Finally, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. What restrictions exist in the Oldland Lease? Plenty Oldland leasehold apartments will incur a service bill for the upkeep of the block levied on behalf of the management company. Where you buy the apartment you will have to meet this charge, usually periodically during the year. This can vary from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a rentcharge for you to pay annual, this is usually not a exorbitant amount, say around £50-£100 but you need to check as sometimes it could be many hundreds of pounds.
My wife and I have recently appointed a conveyancing solicitor in Oldland. I need to find out if they are listed on the lender's approved list of lawyers. Can you or the lender confirm if they are on the panel?
It’s a good idea call your solicitor to check if they are on the bank's panel. If that does not help get in touch with us and we can make some checks for you. If they are not on the conveyancing panel we can certainly arrange a quality conveyancing solicitor in Oldland on the approved list for your lender.