we are a couple who are hoping to buy a newbuild flat in Bloomsbury with a loan from Yorkshire Building Society.We like our Bloomsbury conveyancing practitioner but Yorkshire Building Society informed us her practice is not listed on their approved list of firms. It seems we are left with little choice but to instruct a Yorkshire Building Society panel lawyer or keep our local solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Yorkshire Building Society use our lawyer?
Unfortunately,no. The loan offered to you contains various provisions, a common one being that conveyancers needs to be on the Yorkshire Building Society approved list. in the past, most banks had large numbers of solicitors on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
Various internet forums that I have visited warn that are the main reason for hinderance in Bloomsbury house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Bloomsbury.
four months have elapsed following my purchase conveyancing in Bloomsbury concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 premises 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 opted to have a survey completed on a property in Bloomsbury ahead of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will not give a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bloomsbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bloomsbury to see if the conveyancing costs will increase in light of this.
I am 3 weeks into a residential purchase having been referred to conveyancers by the local agent to perform conveyancing in Bloomsbury. I am not happy. Can you help me find new conveyancers?
A conveyancer would need to be very bad in order to consider diss instructing them. Has the mortgage offer been generated? If so you need to advise them of the replacement solicitor and get the offer are re-issued. Your conveyancer needs to be on the lenders approved list to avoid escalating charges and frustration. So that should be your starting point. The find a solicitor tool will help you find a lender approved lawyer for your home move in Bloomsbury
Being a leasehold owner I am liable for a maintenance fee for my property in Bloomsbury. Due to redundancy and personal issues I slipped behind with remittance. The freeholders agreed a clearance plan but there is still a couple of outstanding as of today.
I want to dispose of the property and I am concerned this can jeopardize the sale if I have to discharge the amount due now. Do I have to settle before - is this practicable?
The lawyer undertaking your Bloomsbury sale will hopefully be in a position to negotiate with the management company, and agree with them whether or not they would accept payment out of the completion monies. Here is an example of why it is advisable to appoint a lawyer in Bloomsbury as they may well enjoy an open line of communication with the parties.