We are hoping to buy a 1 bedroom flat in Hersham with a mortgage. We have a Hersham solicitor, however the mortgage company says she’s not on their "panel". It appears that we have little choice but to select one of the bank panel solicitors or continue with our Hersham lawyer as well as pay for one of their panel firms to act for them. This seems very unfair; are we not able to insist that the mortgage company use our Hersham solicitor ?
No, not really. 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. A further alternative is for your Hersham conveyancing lawyer to apply to be on the conveyancing panel.
My aunt passed away 10 months ago and as sole heir and executor I was left the house in Hersham. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this possible?
If you plan to refinance then Kent Reliance will insist on your using a conveyancer on the Kent Reliance conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Kent Reliance conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Kent Reliance mortgage is registered as a charge at the Land Registry.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a house in Hersham? or Apparently there is a law dating back centuries that means some homeowners residing in a parish church boundary will be compelled to contribute towards maintenance towards the chancel within the church. Is this relevant for conveyancing in Hersham?
Unless a prior purchase of the premises completed post 12 October 2013 you could take it that lawyers carrying out conveyancing in Hersham to continue to propose a a chancel search and or chancel repair liability policy.
How does conveyancing in Hersham differ for newly converted properties?
Most buyers of new build property in Hersham come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because developers in Hersham typically buy the real estate, 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 conveyancing solicitors 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 Hersham or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Hersham is where the house is located. Is there any guidance you can impart?
Flying freeholds in Hersham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hersham you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hersham may decide 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.
I am planning to acquire a property and require a conveyancing solicitor in Hersham who is on the mortgage company approved panel. Can you recommend a Hersham or local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who carry out conveyancing in Hersham. We dont recommend any particular solicitor.