We are purchasing a 2 bedroom flat in Bexhill with a mortgage. We wish to retain our Bexhill solicitor, but the bank says he's not on their "panel". We have to appoint one of the lender panel firms or retain our Bexhill conveyancer and pay for one of their panel firms to represent them. This feels very unfair; are we not able to demand that the mortgage company use our Bexhill conveyancing practitioner ?
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 Bexhill conveyancing solicitor to apply to be on the conveyancing panel.
We are planning to acquire a house and require a conveyancing solicitor in Bexhill who is on the TSB conveyancing panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for TSB . We don't recommend any particular firms conducting conveyancing in Bexhill.
We expect to receive a DIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Bexhill solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Bexhill solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Bexhill lawyer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I have finally had an offer on a maisonette in Bexhill accepted, but there is a chain. The sellers have placed an offer on on an apartment, however it’s not been accepted yet, and have viewings of other flats booked. I have chosen a bricks and mortar conveyancing solicitor in Bexhill. What should be my next step? At what point should I apply for the mortgage with Nottingham?
It is usual to have concerns 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 valuation, Bexhill conveyancing search fees, etc). First, you must check that your property lawyer is on the Nottingham conveyancing panel. Concerning the subsequent stages this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. During a hot market some buyers would apply for the mortgage with Nottingham and pay for the valuation and only if it comes back ok would they pay their solicitor to move forward with the conveyancing in Bexhill.
4 months have elapsed since my purchase conveyancing in Bexhill took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Bexhill with a mortgage from Alliance & Leicester . The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my solicitor about the extras as it would adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Please can you clarify what options are available to me if my Bexhill conveyancing searches reveals adverse entries?
Usually, almost all problems that arise in Bexhill conveyancing search results can be handled prior to completion or indemnity insurance can be put in place. You should remember that although you are purchasing the premises and may be content to accept the search results, your building society or bank may not, and ultimately the decision rests with them.