My wife and I are buying a 1 bedroom flat in Beckenham with a mortgage. We have a Beckenham lawyer, however the bank says he's not on their "panel". It seems we have no option but to instruct one of the mortgage company panel firms or retain our Beckenham property lawyer as well as pay for one of their panel lawyers to act for them. This feels very unfair; can we not require that the lender use our Beckenham lawyer ?
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 bank’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 Beckenham conveyancing solicitor to apply to be on the conveyancing panel.
We see that you have a search directory identifying solicitors on the HSBC conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Beckenham?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Beckenham.
My property lawyer in Beckenham is not listed on the Nottingham Building Society Conveyancing Panel. Is it possible for me to continue with my prefered solicitor even though they are excluded from the Nottingham Building Society approved list?
The limited options available to you here include:
- Carry on with your preferred Beckenham lawyers but Nottingham Building Society will need to retain a solicitor on their list of acceptable firms. This will result in additional total legal fees as well as cause frustration.
- Find an alternative practitioner to act in the purchase, not forgetting to check they are on the Nottingham Building Society panel
I am helping my mother sell her property in Beckenham. Will the conveyancing solicitor arrange an energy assessment or it is for the owner to coordinate?
After the demise of HIPs, energy assessments remained a compulsory component of selling a house. An EPC must be commissioned in advance of the property being marketed. This is not as aspect of the sale process that lawyers normally organise. If you are instructing a Beckenham conveyancing lawyer they might help arrange energy assessments due to their relationships with long established Beckenham assessors
I'm in the process of viewing apartments in Beckenham and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with RBS.
You should start requesting 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 forward their details on to the estate agent. As you are taking out a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I have finally had an offer on an apartment in Beckenham agreed to, the owners do however have an associated purchase. The sellers have offered on on an apartment, however it’s not yet tied up, and are looking at other apartments booked. I have selected a nearby conveyancing solicitor in Beckenham. What should be my next step? At what point do I apply for the mortgage with Lloyds?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then survey, Beckenham conveyancing search costs, etc). First, you should ensure that your conveyancing practitioner is on the Lloyds approved list. Regarding the next steps this very much depends on the circumstances of your case, motivation for this property and on the state of the market. In a buoyant market the majority of buyers would apply for the mortgage with Lloyds and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to proceed with searches.
How does conveyancing in Beckenham differ for newly converted properties?
Most buyers of new build premises in Beckenham approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Beckenham usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Beckenham or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and identified one close by in Beckenham I like with open areas and station nearby, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Beckenham in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.