We are planning to buy a 1 bedroom flat in Lytham with a mortgage. We like our Lytham lawyer, however the lender says she’s not on their "panel". It appears that we have little choice but to select one of the bank panel conveyancing practices or continue with our Lytham conveyancer and pay for one of their panel firms to act for them. We regard this is inequitable; are we not able to require that the mortgage company use our Lytham conveyancing practitioner ?
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. Another option that might be available is for your Lytham conveyancing solicitor to apply to be on the conveyancing panel.
Can you help? My Lytham conveyancer is informing me me that he is legally obliged toapply for Lytham conveyancing searches asthe firm are on the Santanderapproved lawyer panel. Is my solicitor correct?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Lytham conveyancing searches.
Is it the case that all Lytham solicitor firms on the Coventry BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Coventry BS approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do allow licenced conveyancers on their panel and in that case the firms would be overseen by the Council of Licensed Conveyancers.
We previously appointed solicitors with offices in Lytham on the Bank of Ireland solicitor approved list. They have just invoiced me an additional charge for handling the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
Provided it is contained in their Terms and Conditions or estimate then yes your lawyer is entitled to charge a fee for this. This charge is not dictated by Bank of Ireland but by your Lytham conveyancer. Numerous firms on the Bank of Ireland panel will levy an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
We were going to get a DIP from Aldermore this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Lytham solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Lytham solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I have recentlydiscovered that Arc property Solicitors have closed. They conducted my conveyancing in Lytham for a purchase of a leasehold flat 12 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The quickest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Lytham conveyancing specialists.
I'm converting the mortgage on my primary home to a BTL mortgage with Yorkshire Building Society and intend to use the remaining equity as a deposit on another property. The location we are talking about is Lytham. Will your conveyancers be able to act for both sets of lenders and tie in the two deals?
Do use our comparison tool on this site to be sure that the solicitors are on the relevant lender panels. On the basis that they are your conveyancer will be able to connect the two deals but you should have a chat with you lawyer and communicate your expectations and requirements.
My partner and I may need to sub-let our Lytham garden flat temporarily due to taking a sabbatical. We used a Lytham conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Lytham conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you need to seek consent from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior consent. The consent must not not be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I bought a 2 bed flat in Lytham, conveyancing was carried out January 2012. How much will my lease extension cost? Comparable flats in Lytham with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2087
With just 62 years left to run we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.