We are intending to purchase a 2 bedroom apartment in Langport with a mortgage. We have a Langport solicitor, however the bank says she’s not on their "panel". It seems we have little option but to select one of the lender panel solicitors or keep our Langport property lawyer as well as pay for one of their panel firms to act for them. We regard this is unjust; can we not insist that the mortgage company use our Langport conveyancing practitioner ?
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 Langport conveyancing lawyer to apply to be on the conveyancing panel.
My Conveyancer in Langport is not listed on the Birmingham Midshires Conveyancing Panel. Can I still retain my prefered solicitor notwithstanding that they are not on the Birmingham Midshires panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Langport solicitors but Birmingham Midshires will need to use a solicitor on their list of acceptable firms. This will inevitably rack up the total conveyancing fees as well as result in frustration.
- Find a new solicitor to to deal with the conveyancing, not forgetting to check they are on the Birmingham Midshires panel
I require fast conveyancing in Langport as I am faced with an ultimatum to exchange contracts within 3 weeks. Luckily I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are not obtaining a home loan you have the choice not to do searches although no conveyancer would suggest that you don't. With plenty of history conveyancing in Langport the following are instances of what can be revealed and adversely affect the marketability of the property: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
Me and my brother purchased a semi-detached Georgian house in Langport. Conveyancing practitioner represented me and Leeds Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. Is it worth asking Leeds Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Langport and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing lawyer who carried out the work.
I am buying a new build house in Langport with a loan from Birmingham Midshires. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not to tell my lawyer about the side-deal as it would affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Please can you explain what options are available to me if my Langport conveyancing searches shows adverse results?
On the whole, almost all problems revealed in Langport conveyancing search responses can be handled ahead of completion or indemnity insurance can be put on cover. You should remember that although you may be acquiring the property and might be willing to accept the search results, your mortgage lender may not, and when all said and done the decision rests with them.