We are buying a 3 bedroom apartment in Downham with a mortgage. We like our Downham conveyancer, however the mortgage company advise he's not on their "panel". It seems we have little choice but to appoint one of the lender panel firms or retain our Downham property lawyer as well as pay for one of their panel lawyers to represent them. This seems very unfair; are we not able to demand that the bank use our Downham conveyancer ?
Unfortunately,no. 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. A further alternative is for your Downham conveyancing solicitor to apply to be on the conveyancing panel.
I am acquiring a newly built apartment in Downham and my lawyer is telling me that she has to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to exchange contracts and I would rather not delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My Solicitor in Downham is not on the Halifax Conveyancing Panel. Is it possible for me to use my prefered solicitor even though they are excluded from the Halifax panel of approved conveyancing solicitors?
The limited options open to you here include:
- Carry on with your existing Downham solicitors but Halifax will need to instruct a solicitor on their list of acceptable firms. This will result in additional overall legal charges and result in frustration.
- Get a new lawyer to act in the purchase, remembering to check they are Halifax approved.
- Try to convince your Halifax based solicitor to seek to join the Halifax panel
My wife and I purchasing a end of terrace house in Downham. Our aim is to convert the garage to a playroom at the house.Will legal work on the property include checks to see if these alterations are prohibited?
Your property lawyer should check the registered title as conveyancing in Downham will occasionally reveal restrictions in the title documents which restrict certain changes or need the consent of a 3rd party. Certain works require local authority planning permissions and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these issues with a surveyor prior to committing yourself to a purchase.
Is it the case that all Downham CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing list of approved firms?
A selection of lenders now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Is it the case that all Downham solicitor firms on the Principality conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Principality approved list of solicitors they would need to be regulated by the SRA. Some mortgage companies do list licenced conveyancers on their panel and in such a situation the practice would be overseen by the Council of Licensed Conveyancers.
I purchased a semi-detached Edwardian house in Downham. Conveyancing lawyer represented me and Yorkshire Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the matching address. Is it worth asking Yorkshire Building Society to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Downham and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing practitioner who completed the work.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Downham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Downham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Downham you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Downham may decide 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.