My husband and I are planning to acquire a 3 bedroom flat in Truro with a mortgage. We like our Truro lawyer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Truro conveyancer as well as pay for one of their panel firms to represent them. This seems very unfair; are we not able to require that the lender use our Truro lawyer ?
Unfortunately,no. Your mortgage offer 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. A further alternative is for your Truro conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I intend to remortgage our flat in Truro with Coventry BS. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have two questions (1) Is this document specific to the Coventry BS conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coventry BS. This is solely used to protect Coventry BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coventry BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Can your site be used to find a Conveyancing solicitor in Truro even where I’m not buying or disposing of a house, for example if I intend to acquire an office in Truro with a mortgage from Bank of Ireland?
The service is primarily used to help choose domestic conveyancing solicitors in Truro but we have recorded towards the bottom of this page some Truro commercial conveyancing firms. You should enquire with the firm directly to establish if they can also act for Bank of Ireland
Are the BSA planning on creating a online directory to list practices on the Loughborough BS conveyancing panel for example in Truro?
We have not been informed any intention on the part of the BSA to develop such a register.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Truro I like with amenity areas and transport links in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Truro suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan that many years may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I need to find a conveyancing solicitor for sale conveyancing in Truro. I've land on a web site which looks to be the ideal answer If there is a chance to get all the legals completed via phone that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?