My wife and I are buying a 3 bedroom flat in Cambridge with a mortgage. We have a Cambridge solicitor, but the lender says she’s not on their "panel". We have to appoint one of the bank panel solicitors or retain our Cambridge conveyancing practitioner as well as pay for one of their panel firms to represent them. This feels very unfair; can we not demand that the bank use our Cambridge property 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 lender’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 Cambridge conveyancing solicitor to apply to be on the conveyancing panel.
The housing market in Cambridge is hotting up. What can be done to accelerate the buying process?
In a situation where you are under a tight deadline for your conveyancing it is highly recommended that your solicitor is familiar with the area as they will benefit local connections and intelligence. It is even conceivable that they may have handled otherhouses in the same neighbourhood. You would be best advised to use a Cambridge conveyancing lawyer. In addition, check that the lawyer is on the on the approved list for your mortgage company. It is understood that just under twenty per cent of Cambridge conveyancing deals are held up or jeopardised after finding out that a purchaser’s conveyancer was not on their mortgage lender’s member panel. This can often result in the buying process being held up by an average of three weeks. It is understood that this issue affects approximately 100,000 home moves annually. Almost all Cambridge conveyancing firms can not act for certain banks so do check at the outset.
The deeds to our home are lost. The conveyancers who handled the conveyancing in Cambridge 4 years ago have long since closed. Will I be able to sell the house?
In today’s world there are duplicates made of almost everything, and your solicitor will be aware precisely where to look for all the suitable documentation so you may buy or dispose of your property without a hitch. Where duplicates can’t be located, your lawyer can arrange cover in the form of insurance or indemnities protecting you against future claims on the premises.
The estate agent has sent us the confirmation of our purchase of a new build flat in Cambridge. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Cambridge
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
I opted to have a survey completed on a property in Cambridge in advance of appointing solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend not grant a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cambridge. Conveyancing may be slightly more expensive based on your lender's requirements.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.