Me and my partner are planning to purchase a 1 bedroom flat in Crystal Palace with a mortgage. We like our Crystal Palace conveyancer, however the lender advise he's not on their "panel". It seems we have little option but to use one of the bank panel solicitors or keep our Crystal Palace property lawyer as well as pay for one of their panel lawyers to represent them. We feel that this is inequitable; is there anything we can do?
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 bank’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 Crystal Palace conveyancing solicitor to apply to be on the conveyancing panel.
I am about to exchange on the purchase of a property in Crystal Palace but as a result of wreckage from the recent storms I have managed to agree recompense from the current proprietors in the sum of £2k in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process but Lloyds will not permit this. Should they have been informed?
Any lawyer being on the Lloyds approved list is obliged to inform Lloyds of any changes to the purchase price. If you were to refuse your solicitor to disclose the price change to Lloyds then they would have to discontinue acting for you. In addition, Lloyds and you would have to appoint a new solicitor for your conveyancing in Crystal Palace.
When can the exchange of contracts occur in purchase conveyancing in Crystal Palace and am I required to be at the conveyancers office?
Where you are in close proximity to our conveyancing solicitors in Crystal Palace you are welcome to come in to sign contracts. That being said, the firms we work with provide a countrywide conveyancing service and provide just as detailed and professional a job for you when dealing with you digitally. The executing of the purchase agreement is not the important part. A signed contract simply enables the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Crystal Palace)to be in the office available at the end of the phone to exchange contracts.
I have been recommended a conveyancing solicitor in Crystal Palace. I need to find out if they are accepted on the Britannia approved list of lawyers. Can you help?
The first thing you should do is call the solicitor and ask them if they can act for the lender. Otherwise please call Britannia who may be able to confirm.
Over the last few months I have been searching for a ground for flat up to £305k and found one near me in Crystal Palace I like with open areas and railway links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Crystal Palace for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Should I be suspicious that estate agents that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a local Crystal Palace conveyancing company?
As is the case with many service providers, often input from connections can be worth their weight in gold. Yet there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders may put forward lawyers to select. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the endorsement. You are at liberty to choose your preferred lawyer. You need to be aware that some banks operate an approved list of conveyancers you are obliged to use for the lender related work in your transaction.