My husband and I are purchasing a 2 bedroom apartment in The Park with a mortgage. We have a The Park solicitor, but the bank advise she’s not on their "panel". It appears that we have little option but to use one of the mortgage company panel firms or keep our The Park conveyancing practitioner as well as pay for one of their panel firms to act for them. We consider that this is unjust; can we not demand that the bank use our The Park 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 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 The Park conveyancing solicitor to apply to be on the conveyancing panel.
My lawyer has uncovered a a legal deficiency with the lease for the property we are purchasing in The Park. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must check that the lender 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 lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 conveyancer will have no choice but to discontinue acting for you.
Why do I have to pay up front for my conveyancing in The Park?
If you are buying a property in The Park your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the Local Authority Search. If any deposit is as part of the total price then this will be required shortly prior to contracts are exchanged. Any further balance that is due will be payable shortly before completion.
I am buying a semi-detached house in The Park. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in The Park you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in The Park.
My wife and I are downsizing from our home in The Park and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A high street The Park lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a web based conveyancing firm as opposed to a conveyancing solicitor in The Park. Having lived in The Park for six years we know that this is a non issue. Do we contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.