We are buying a 2 bedroom flat in Pimlico with a mortgage. We would like to retain our Pimlico conveyancer, but the lender says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Pimlico lawyer as well as pay for one of their panel ones to act for them. We consider that this is unjust; can we not insist that the mortgage company use our Pimlico property lawyer ?
Unfortunately,no. 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. Another option that might be available is for your Pimlico conveyancing solicitor to apply to be on the conveyancing panel.
When reviewing consumer advice sites for a cheap lawyer in Pimlico, most say that I must look for a CQS accredited solicitor. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing processes via the scheme protocol Membership covers many organisations who carry out conveyancing in Pimlico.
We previously selected conveyancers based in Pimlico on the Barclays solicitor panel. They have just billed me an additional charge for the legal aspects of the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor is entitled to levy a fee for this. The fee is not dictated by Barclays but by your Pimlico conveyancing practitioner. Plenty of firms on the Barclays panel will charge an ‘acting for lender’ fee and others do not.
I am currently in the process of buying my council flat in Pimlico. I have a mortgage offer with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
Coventry BS have agreed my mortgage in principle, my offer on a property in Pimlico has been agreed to, now what?
Your property agent will wish to know who your solicitors are (ensure that the solicitors are on the lender’s panel). Call up Coventry BS or the broker and complete any outstanding forms. Coventry BS will sellect a valuer who will get in contact with the estate agent or owners to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. Coventry BS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Pimlico.
It has been five months following my purchase conveyancing in Pimlico took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a leasehold apartment up to £305k and found one round the corner in Pimlico I like with amenity areas and transport links nearby, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Pimlico suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
I am planning to acquire a property and need a conveyancing solicitor in Pimlico who is on the lender solicitor panel. Can you recommend a Pimlico or local Pimlico solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who do conveyancing in Pimlico. We dont recommend any particular conveyancing practice.