We are buying a 3 bedroom apartment in Ormskirk with a mortgage. We wish to retain our Ormskirk conveyancer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Ormskirk conveyancer and pay for one of their panel firms to represent them. We consider that this is inequitable; can we not insist that the mortgage company use our Ormskirk conveyancer ?
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. Another option that might be available is for your Ormskirk conveyancing lawyer to apply to be on the conveyancing panel.
We wish to acquire a purpose built flat in Ormskirk with a residential mortgage from Barclays .We like our Ormskirk conveyancing lawyer but Barclays advised that her practice is not on their "panel". We have to appoint a Barclays panel firm or retain our high street solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Barclays use our lawyer?
Unfortunately,no. The home loan issued to you contains various provisions, a common one being that solicitors will be on the Barclays approved list. Until recently, most banks 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 solicitors to apply to be on the conveyancing panel for Barclays
Two weeks ago we had a mortgage agreed in principle with Coventry BS. Ormskirk conveyancing solicitors are selected. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
Some lenders take longer than others. Have Coventry BS done the valuation? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I recently had an offer accepted on an apartment in Ormskirk. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £225. A few days later, the solicitor contacted me sheepishly admitting that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Coventry BS have agreed my mortgage in principle, my bid on a property in Ormskirk has been accepted, what happens next?
The property agent will wish to know who your solicitors are (be sure the lawyers are on the lender’s approved list). Contact Coventry BS or your financial adviser and finalise any outstanding paperwork. Coventry BS will instruct a valuer who will get in touch with the selling agent or vendor to arrange a slot for the valuation to take place. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Coventry BS will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Ormskirk.
I purchased a renovated Victorian property in Ormskirk. Conveyancing practitioner acted for me and Barclays . I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ormskirk and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing solicitor who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Ormskirk is the location of the property. Can you offer any advice?
Flying freeholds in Ormskirk are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ormskirk you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ormskirk 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 brother has suggested that I appoint his conveyancing solicitors in Ormskirk. Do I follow his advice?
There are no two ways about it the ideal way to find a conveyancing practitioner is to have guidance from friends or relatives who have actually experience in using the firm you're contemplating using.