My husband and I are buying a 2 bedroom flat in Farringdon with a mortgage. We like our Farringdon solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the lender panel solicitors or retain our Farringdon solicitor as well as pay for one of their panel ones to represent 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 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. A further alternative is for your Farringdon conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I have recently appointed a conveyancing solicitor in Farringdon. I need to find out if they are on the Santander conveyancing panel. Can you or the lender confirm if they are on the panel?
You should call the solicitor and ask them whether they can act for the bank. Otherwise please get in touch with Santander who may be able to confirm.
My uncle advised me that in purchasing a property in Farringdon there could be a number of restrictions affecting the ability to carry out external alterations to a property. Is this right?
There are a number of properties in Farringdon which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Farringdon should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Farringdon. A rare aspect is that the roof has a solar panel. Skipton have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Skipton your lawyer must comply with the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for Skipton. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and lawyers are required to report to Skipton where a lease fails to meet these provisions. The conditions relate to the installation of panels on properties nationwide and is not isolated to Farringdon.
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 Farringdon bank branch on numerous occasions and was told they are content with the situation and they would lend. My Farringdon conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
The conveyancing practitioner has to follow the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Despite weeks of looking the Title Certificate and documents to my property are lost. The conveyancers who handled the conveyancing in Farringdon 10 years ago no longer exist. What are my next steps?
Assuming the title is registered the information relating to your ownership will be held by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, identify your house and order up to date copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will also normally hold a certified duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
I am buying a new build house in Farringdon with the aid of help to buy. The developers refused to move on the amount so I negotiated £7000 of extras instead. The property agent advised me not reveal to my solicitor about this extras as it may impact my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
Is it simple use your search facility to get a quote from a conveyancing lawyer in Farringdon on the panel for my lender?
Step one is to select a bank such as Lloyds TSB Bank, Barnsley Building Society or Platform Home Loans Ltd then type in your location for instance Farringdon. Conveyancing practices in Farringdon and further afield will then be shown.