We are intending to acquire a 3 bedroom flat in Catshill with a mortgage. We have a Catshill conveyancer, but the lender advise she’s not on their "panel". We have to appoint one of the lender panel firms or retain our Catshill property lawyer and pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. 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. Another option that might be available is for your Catshill conveyancing solicitor to apply to be on the conveyancing panel.
My Solicitor in Catshill has never been on on the Alliance & Leicester Solicitor Panel. Can I still retain my prefered solicitor even though they are not on the Alliance & Leicester panel?
Your options are as follows:
- Complete the purchase with your preferred Catshill lawyers but Alliance & Leicester will need to use a lawyer on their panel. This will inevitably rack up the total conveyancing charges and result in frustration.
- Get a new practitioner to act in the purchase, obviously checking they are on the Alliance & Leicester panel
It has been 2 months since my purchase conveyancing in Catshill took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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.
How does conveyancing in Catshill differ for new build properties?
Most buyers of new build residence in Catshill come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because builders in Catshill typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Catshill or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a simple, chain free conveyancing. Catshill is the location of the property. Can you shed any light on this issue?
Flying freeholds in Catshill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Catshill you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Catshill may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to retain a conveyancing solicitor for my conveyancing in Catshill. I've discover a web site which looks to be the perfect solution If there is a chance to get all formalities done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?