My husband and I are purchasing a 3 bedroom flat in Downton with a mortgage. We like our Downton lawyer, however the lender says she’s not on their "panel". We have to appoint one of the lender panel firms or continue with our Downton conveyancer as well as pay for one of their panel ones to represent them. We feel that this is inequitable; are we not able to insist that the lender use our Downton 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. Another option that might be available is for your Downton conveyancing lawyer to apply to be on the conveyancing panel.
Is there a reason why leasehold purchase conveyancing in Downton costs more?
The conveyancing costs on a leasehold property in Downton is frequently greater than on a freehold acquisition or disposal. This is because there is an amount of additional time necessary in communicating with the landlord and managing agents to obtain evidence concerning whether the rent and service charges have been discharged and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the building.
My bid for a property was accepted at auction in Downton. Conveyancing is required. What is next?
Now that you are exchanged you now have to appoint a conveyancing practitioner quickly as you will have a tight deadline in which to complete the conveyancing. An auction property will have an associated auction set of papers. This will include evidence of title and search results. If you have purchased leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You should hand this to the solicitor working for you at the earliest opportunity. You also need to ensure that your finances are organised to complete on the date specified in the contract.
We were going to get a OIP from Virgin Money this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Downton solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Downton solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I am due to exchange contracts on my house. I had a double glazing fitted in August 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, HSBC are being a right pain. The Downton solicitor who is on the HSBC conveyancing panel is recommending indemnity insurance as a solution but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when acquiring a property in Downton?
Unless a prior purchase of the property took place post 12 October 2013 you may expect lawyers carrying out conveyancing in Downton to remain encouraging a chancel search and or chancel repair liability policy.
I have a renovated Victorian property in Downton. Conveyancing lawyer represented me and Accord Mortgages Ltd. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the matching address. Is it worth asking Accord Mortgages Ltd to clarify?
You need to 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 Downton and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing lawyer who carried out the work.
Am I best advised to use a Downton conveyancing lawyer who is local to the property I am buying? We have a good friend who can conduct the legal work but they are based 400miles away.
The benefit of a local Downton conveyancing practice is that you can pop in to sign documents, hand in your identification documents and pester them if necessary. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and the majority were content that should surpass using an unknown Downton conveyancing lawyer solely due to them being round the corner.