We are intending to acquire a 1 bedroom flat in Fenham with a mortgage. We like our Fenham lawyer, but the lender says he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Fenham property lawyer and pay for one of their panel ones to represent them. This seems very unfair; are we not able to demand that the mortgage company use our Fenham property lawyer ?
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 Fenham conveyancing solicitor to apply to be on the conveyancing panel.
We are purchasing a brand new apartment in Fenham and my conveyancer is advising me that she is duty bound to the bank to reveal incentives from the seller. I am under pressure to exchange contracts and my preference is not to 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 bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Me and my brother own a semi-detached Georgian property in Fenham. Conveyancing practitioner acted for me and Britannia. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fenham and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Fenham differ for new build properties?
Most buyers of new build premises in Fenham approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because new home sellers in Fenham tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Fenham or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Fenham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Fenham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fenham you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fenham may determine 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.
How does the Landlord & Tenant Act 1954 impact my business offices in Fenham and how can you help?
The particular law that you refer to gives protection to commercial tenants, granting the dueness to apply to court for a renewal lease and remain in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Fenham is one of the many locations in which the firms we work with are based