My fiance and I are acquiring property in Broughton. My lawyer is not listed on the lender conveyancing list. Is it possible for me to continue with my Broughton conveyancing solicitor notwithstanding that they are not on the bank list of approved lawyers?
You have numerous options available to you here
- Carry on with your preferred Broughton conveyancing practitioner but your lender will no doubt appoint a conveyancing practitioner from their conveyancing panel. This will result in additional fees together with likely interruption.
- Get a new conveyancing practitioner to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Appeal to your conveyancing practitioner to seek to join the mortgage company panel
The Broughton conveyancing firm that just started acting on my purchase in Broughton have suddenly closed. I chose them because I had to have a solicitor on the Principality conveyancing panel and my preferred Broughton lawyer was not. I paid them 275 plus VAT on account. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Principality conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
We had appointed conveyancing lawyers with offices in Broughton on the Coventry BS solicitor panel. They have just invoiced me a separate fee for dealing with the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to levy a fee for this. This charge is not dictated by Coventry BS but by your Broughton conveyancing practitioner. Numerous firms on the Coventry BS panel will charge ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
The mortgage over my property is with Lloyds for my property in Broughton. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Lloyds?
Lloyds must be informed of your intention before letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel solicitor.
I was told two weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Broughton is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly picked up during conveyancing in Broughton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Broughton. 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…’
Due to the guidance of my in-laws I had a survey completed on a house in Broughton before retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend refuse to give a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you contact us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Broughton. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Broughton cover?
Commercial conveyancing in Broughton incorporates a broad range of guidance, given by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.