Me and my fiance are buying a 1 bedroom flat in Ely with a mortgage. We wish to retain our Ely solicitor, but the mortgage company says she’s not on their "panel". It seems we have no choice but to appoint one of the mortgage company panel solicitors or continue with our Ely conveyancing practitioner as well as pay for one of their panel lawyers to act for them. This seems very unfair; 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 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 Ely conveyancing solicitor to apply to be on the conveyancing panel.
Would the conveyancing lawyers that you recommend carry out conveyancing in Ely by way of an attended exchange?
There are a few conveyancing experts who can conduct attended exchanges. Please e-mail us to obtain a fee calculation and details as to availability.
When it comes to lenders such as UBS, do Ely property lawyers incur a fee to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Can I be sure that the Ely conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Ely obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer carrying out your conveyancing.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Ely building society branch on numerous occasions and was reassured it wasn't a problem and they will lend. My Ely conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Provided that the conveyancing practitioner is on the bank approved list, they must comply with the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
2 months have gone by following my purchase conveyancing in Ely concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 asset 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.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Ely. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Ely
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Please supply a car parking plan. Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
What does commercial conveyancing in Ely cover?
Ely conveyancing for business premises incorporates a wide range of advice, provided by regulated solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.