My wife and I are purchasing a 1 bedroom apartment in Avery Hill with a mortgage. We wish to retain our Avery Hill solicitor, however the bank advise he's not on their "panel". It seems we have no choice but to appoint one of the mortgage company panel firms or retain our Avery Hill property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to require that the bank use our Avery Hill solicitor ?
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 Avery Hill conveyancing solicitor to apply to be on the conveyancing panel.
As someone not used to the Avery Hill conveyancing process what’s your top tip you can impart for the ownership transfer in Avery Hill
You may not hear this from too many lawyers but conveyancing in Avery Hill and elsewhere in South East London is an adversarial process. In other words, when it comes to conveyancing there is lots of room for friction between you and others involved in the transaction. For instance, the seller, estate agent and even potentially your lender. Appointing a solicitor for your conveyancing in Avery Hill should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the legal process whose interest is to look after your best interests and to protect you.
Sometimes a potential adversary will try and sway you that you should follow their advice. For example, the selling agent may claim to be helping by claiming that your solicitor is dragging his heels. Or your financial adviser may advise you to do take action that is contrary to your lawyers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would prefer to use a high street conveyancing solicitor in Avery Hill?
You should check but the the probability is that allocate you one of their panel solicitors if you want the "fee-free" deal. Call the bank and explore if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Avery Hill.
I have been on the look out for a flat up to £245,000 and found one near me in Avery Hill I like with amenity areas and station in the vicinity, however it's only got 52 years unexpired on the lease. There is not much else in Avery Hill suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I'm converting the mortgage on my current home to a buy to let loan with Coventry Building Society and I will use the ballance of the raised equity as a deposit on further house. The neighborhood we are talking about is Avery Hill. Will your conveyancers be able to act for both sets of lenders and tie in the two deals?
Make use of our search tool on this page to be sure that the conveyancers are approved by both lenders. Assuming that they are your lawyer should be able to tie up the two conveyancing matters but you should talk with you solicitor and make apparent your expectations and needs.
I note that you have a post code search directory identifying law firms on the bank conveyancing panel. Do Avery Hill conveyancing firms pay you a commission if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Avery Hill.