My husband and I are intending to purchase a 3 bedroom flat in Purton with a mortgage. We like our Purton solicitor, however the mortgage company says he's not on their "panel". We have to appoint one of the lender panel solicitors or retain our Purton 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. 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 Purton conveyancing lawyer to apply to be on the conveyancing panel.
My husband and I are purchasing a new build duplex in Purton and my lawyer is informing me that she is duty bound to the bank to disclose incentives from the seller. I am on a tight deadline to sign contracts and my preference is not to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My uncle passed away last year and as sole heir and executor I was left the house in Purton. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
Where you plan to refinance then Nottingham will require that you use a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
Various web forums that I have visited warn that are a common reason for stalling in Purton conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Purton.
Given that I am about to part with hundreds of thousands of pounds on a two bedroom apartment in Purton I wish to talk to a lawyer regarding thehouse move in advance of appointing the firm. Is this something that you can arrange?
We could not agree more - we would be happy to talk to you we do not take any clients on without you liaising with the lawyer due to be conducting your conveyancing in Purton.There is no ‘factory style conveyancing’ - each client is unique person, not a file number. The practices that we put you in touch with believe that the fees you are quoted for residential conveyancing in Purton should be the figure that you are charged.
My partner and I expecting to complete buying a house in Purton but as a consequence of wreckage from the recent storms I have agreed recompense from the owner of £3k taking the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process however my mortgage company will not agree to this. Why were they informed?
The conveyancer being on the bank conveyancing panel is duty bound to inform the bank of any changes to the purchase price. In the event that you did not allow your conveyancer to report the price change to your lender then they would have no choice but to discontinue acting for you and the mortgage company.