We are planning to purchase a 1 bedroom apartment in Yoxall with a mortgage. We wish to retain our Yoxall solicitor, but the bank says he's not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or keep our Yoxall solicitor as well as pay for one of their panel ones to represent them. We consider that this is inequitable; can we not require that the mortgage company use our Yoxall solicitor ?
No, not really. 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 Yoxall conveyancing solicitor to apply to be on the conveyancing panel.
My partner and I are purchasing a new build duplex in Yoxall and my conveyancer is telling me that she is duty bound to the lender to reveal incentives from the builder. I am on a tight deadline to exchange and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am assisting my mother sell her flat in Yoxall. Does the conveyancing solicitor arrange an EPC or it is for me to coordinate?
After the demise of Home Information Packs, energy performance certificates was maintained a mandatory component of selling a house. An energy assessment needs to be to hand prior to the property being put on the market. It is not as aspect of the sale process that conveyancers ordinarily organise. If you are instructing a Yoxall conveyancing practitioner they might help arrange energy performance certificates due to their contacts with long established local assessors
I can not fathom if my lender requires a lease extension. I have called my Yoxall building society branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Yoxall conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the lawyer is on the lender approved list, they must adhere to the Council of Mortgage Lenders’ Handbook specifications for the lender. 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 remaining.
I recently had an offer agreed on an apartment in Yoxall. My mortgage broker pressured me to appoint their solicitor. I paid an advanced payment of £175. Shortly after, the property lawyer called me sheepishly admitting that they were not on the Lloyds 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 Lloyds 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.
We are planning on selling our house in Yoxall and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. A high street Yoxall lawyer would know this is not the case. For the life of me I don't know why the purchasers used a web based conveyancing outfit as opposed to a conveyancing solicitor in Yoxall. We have lived in Yoxall for 5 years we know that this is a non issue. Should we contact our local Authority to get confirmation need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You must 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 life insurance to cover that same sickness)
Just had an offer accepted on a new build flat in Yoxall. 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 conveyancing.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Yoxall
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
My 20yr old son is about to join the property ladder, the home loan was agreed last week in principle. After the seller agreed the offer on the apartment we telephoned the mortgage company to progress the mortgage application. I was very surprised to hear that mortgage companies do not accept all solicitor, they must be on their panel, is this legal?
Lenders ordinarily imposes restrictions either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Yoxall conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.