My husband and I are buying a 1 bedroom apartment in Droylsden with a mortgage. We like our Droylsden solicitor, but the lender says he's not on their "panel". It seems we have no option but to use one of the mortgage company panel conveyancing practices or keep our Droylsden conveyancer as well as pay for one of their panel lawyers to act for them. We consider 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 Droylsden conveyancing lawyer to apply to be on the conveyancing panel.
Can you explain why leasehold purchase conveyancing in Droylsden costs more?
In short, leasehold conveyancing in Droylsden and Greater Manchester usually necessitates extra due diligence compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord about the service of required notices, obtaining current service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
I have been told that property searches are the primary reason for hinderance in Droylsden conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Droylsden.
Me and my brother have a renovated Georgian property in Droylsden. Conveyancing lawyer acted for me and HSBC Bank. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the exact same property. Is it worth asking HSBC Bank to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be 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 Droylsden and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing practitioner who conducted the work.
I am buying a new build house in Droylsden benefiting from help to buy. The developers would not move on the amount so I negotiated £7000 of extras instead. The house builders rep told me not disclose to my lawyer about this side-deal as it would adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been sourcing a conveyancing practitioner in Droylsden for my house move. Can I review a solicitor's record with the profession’s regulator?
You may read presented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator could recorded call for training purposes.