We are planning to acquire a 3 bedroom apartment in Splott with a mortgage. We wish to retain our Splott lawyer, however the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Splott conveyancer and pay for one of their panel lawyers to act for them. This feels very unfair; can we not insist that the bank use our Splott 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 Splott conveyancing lawyer to apply to be on the conveyancing panel.
Our conveyancer has discovered a defect with the lease for the apartment we are buying in Splott. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must check that the mortgage company is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
We are buying a newbuild apartment in Splott with a residential mortgage from Nationwide Building Society.We like our Splott conveyancing solicitor but Nationwide Building Society advised that her practice is not listed on their "panel". we are left little option but to use a Nationwide Building Society panel lawyer or retain our preferred solicitor and fork out for a Nationwide Building Society panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan issued to you is subject to its various provisions, a common one being that conveyancers must be on the Nationwide Building Society conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Nationwide Building Society
I'm at the point of looking at houses in Splott and I am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with Yorkshire BS.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are obtaining a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
After much negotiation I have agreed a price on a house in Splott. My mortgage broker suggested a conveyancing practitioner. I paid an advanced payment of £200. A few days later, the property lawyer called me sheepishly admitting that they were not on the Skipton 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 Skipton 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.
TSB have agreed my mortgage in principle, my bid on a apartment in Splott has been accepted, what happens next?
The property agent will want to be informed of your lawyer's details (ensure that the property lawyers are on the lender’s panel). Call up TSB or your broker and complete any relevant paperwork. TSB will instruct a valuer who will get in touch with the selling agent or owners to schedule a time for the valuation to occur. Once carried out (assuming no problems) it takes about ten days to receive the mortgage offer. TSB will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Splott.
Will commercial conveyancing searches disclose planned roadworks that could affect a commercial estate in Splott?
Many commercial conveyancing solicitors in Splott will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Splott. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Splott.
For every commercial conveyancing transaction in Splott it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Splott commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Splott.
I have been sourcing a conveyancing lawyer in Splott for my purchase. Is it possible to check a firm’s record with the profession’s regulator?
Anyone can review documented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA could monitor call for training purposes.