My wife and I are purchasing a 1 bedroom flat in Somerstown with a mortgage. We wish to retain our Somerstown conveyancer, however the bank advise he's not on their "panel". We have to appoint one of the bank panel firms or keep our Somerstown conveyancer and pay for one of their panel firms to act for them. This seems very unfair; can we not insist that the bank use our Somerstown conveyancer ?
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 lender’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 Somerstown conveyancing solicitor to apply to be on the conveyancing panel.
I am helping my step-mother sell her flat in Somerstown. Will the conveyancer commission an energy performance certificate or it is for the owner to see to?
Following the abolition of HIPs, EPC’s was kept a mandatory component of moving property. An EPC needs to be to hand prior to the property being put on the market. It is not something that conveyancers normally organise. Where you are instructing a Somerstown conveyancing lawyer they may help arrange EPC’s given their contacts with long established local assessors
When it comes to lenders such as Lloyds, do Somerstown solicitors face a yearly amount to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Somerstown building society branch on various occasions and was reassured it wasn't an issue and they would lend. My Somerstown conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend based on their specific requirements. Who do I believe?
The conveyancer must comply with the CML Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
4 months have gone by since my purchase conveyancing in Somerstown completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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.
About to purchase a new build apartment in Somerstown. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Somerstown
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
How simple is it to change solicitor as I need to appoint a firm on the Barclays conveyancing list. I was using a high street conveyancing solicitor in Somerstown five minutes from me but she is not approved by Barclays
We will our best to assist in finding you a conveyancing solicitor in Somerstown on the Barclays panel. Please note that the solicitors that we on the directory do not pay us a referral fee if you instruct them and are registered with the SRA who oversee all conveyancing solicitors in Somerstown. In making use of search facility on this page, you can compare costs for conveyancing solicitors in Somerstown and beyond.
Your search tool is useful but there are many lawyers listed near Somerstown being on the bank conveyancing panel. Can you recommend a specific firm on the bank approved panel?
We are not in the business of recommending one firm above another as the right Somerstown conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Somerstown knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..