Me and my partner are purchasing a 2 bedroom apartment in Gotham with a mortgage. We have a Gotham conveyancer, 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 conveyancing practices or continue with our Gotham property lawyer and pay for one of their panel firms to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer 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 Gotham conveyancing lawyer to apply to be on the conveyancing panel.
The Gotham conveyancing firm that I recently instructed on my purchase in Gotham have suddenly shut down. They were on acting for me because I had to have a solicitor on the Nationwide conveyancing panel and my previous Gotham lawyer was not. I cut them a cheque for £250 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nationwide conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
This question may be naive but I am unexperienced as FTB of a garden flat in Gotham. Do I collect the keys to the premises on completion from my solicitor? If so, I will appoint a local conveyancing solicitor in Gotham?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you should be invited to collect the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
I happen to be the sole recipient of my late mum's estate with all property in now in my sole name, including the house in Gotham. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship will be considered the same way as though I had purchased the property in December. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Some mortgage companies would take a pragmatic view as this obligation chiefly exists to pick up on subsales or the quick reselling of property.
How can we tell if a Gotham conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Gotham getting recommendations is a good 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 which is cheap as chips. We would always recommend that you speak with the lawyer carrying out your transaction.
I am purchasing a new build house in Gotham benefiting from help to buy. The sellers would not reduce the price so I negotiated 6k of extras instead. The sale representative advised me not reveal to my solicitor about the side-deal as it will impact my mortgage with the lender. 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.
My brother has recommend that I instruct his conveyancing solicitors in Gotham. Should I find my own property lawyer?
Much as we are happy to recommend a Gotham conveyancing lawyer it’s preferable to select a conveyancing practitioner is to get recommendations from friends or family who have experience in using the solicitor you're considering.
What type of premises does your Gotham conveyancing quotes relate to?
The quotes provided are only appropriate to standard domestic homes in England & Wales. Where you have any different requirements for example industrial or agricultural property or commercial conveyancing in Gotham you should telephone us to discuss this further .