We were just about to sign contracts for a freehold house in Brompton. We encountered a problem. Our mortgage offer with National Westminster Bank expires on 23/11/2026 but the vendors are suggesting a completion date of 25/11/2026. Can one prolong the loan offer?
The best person to deal with your concern is your conveyancer who will hopefully assess whether they better off negotiating with the lender, vendor’s representatives, selling agents or indeed all parties given the history of your conveyancing to date.
I am in the process of mortgaging my flat in Brompton, does my lawyer have to be on the Skipton Solicitor panel?
There is nothing to stop you using your solicitor, but Skipton will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Are there restrictive covenants that are commonly identified as part of conveyancing in Brompton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Brompton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Am I right to be concerned that third parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a local Brompton conveyancing practice?
As with lots of professional services, often suggestions from family and friends can be very helpful. Nevertheless there are numerous parties with a keen interest in a conveyancing matter; estate agents, mortgage brokers and lenders might all recommend conveyancers to instruct. On occasion these solicitors might be known to one of the organisations as experts in their field, but occasionally there exists a commercial relationship behind the recommendation. You are at liberty to choose your own conveyancer. You need to be aware that most banks have an approved list of lawyers you must use for the mortgage related work in your conveyancing.
We're new to the buying process - had an offer accepted, yet the property agent advised that the owners will only proceed if we instruct their recommended conveyancers as they need an ‘expedited deal’. We would rather use a family solicitor who is familiar with conveyancing in Brompton
We suspect that the seller is not behind this demand. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is counter productive. Avoid the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you are going to instruct your preferred Brompton conveyancing firm - not the ones that will earn the estate agent a commission or meet his conveyancing figures set by head office.
My nephew is about to join the property ladder, the home loan was agreed last week in principle. One the offer was accepted on house we contacted the building society to move forward with his. I was shocked to learn that banks do not accept all lawyer, they need to be on their approved list, is this legal?
Lenders tend to restrict either the type or the number of conveyancing solicitors 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 banks have no responsibility for the quality of advice provided by any Brompton conveyancing practitioner 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.