My husband and I are purchasing a 1 bedroom flat in Mildenhall with a mortgage. We like our Mildenhall lawyer, however the bank advise he's not on their "panel". It seems we have little choice but to use one of the lender panel firms or retain our Mildenhall conveyancer and pay for one of their panel firms to act for them. This feels very unfair; can we not require that the lender use our Mildenhall solicitor ?
No, not really. 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 Mildenhall conveyancing lawyer to apply to be on the conveyancing panel.
Do the conveyancing solicitors that you recommend conduct conveyancing in Mildenhall by way of an attended exchange?
There are a few conveyancing specialists carrying out 24hr exchanges. Please call us to receive a costs illustration and details as to dates.
Can your site be used to find a Conveyancing solicitor in Mildenhall even if I’m not purchasing or selling a house, for example if I want to buy a shop in Mildenhall with a loan from Birmingham Midshires?
Our comparison service is primarily utilised to locate domestic conveyancing solicitors in Mildenhall but we have listed at the end of this page a few Mildenhall commercial conveyancing firms. You will need to enquire with the firm directly to check if they can also act for Birmingham Midshires
I am considering applying for a Virgin Money mortgage for purchase of a newly converted (under development) in Mildenhall with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I purchased a semi-detached Victorian house in Mildenhall. Conveyancing practitioner represented me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
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 Mildenhall and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
Our bank agreed in principle to issue us a mortgage. We are using a high street conveyancer in Mildenhall last week. Today, our financial adviser contacted us saying that the bank said that we cannot use our solicitor as they aren't on their panel. As novices, we had no idea that the mortgage company had some control over our choice Is this permitted?
You are at liberty to use any property lawyer you prefer to appoint for your conveyancing in Mildenhall however if they are not on the your lender's approved list you will have to incur additional cost so the bank can instruct their own solicitors as well to protect their interest. On occasion it is conceivable that your solicitor may apply to get added to the lender list of approved firms. You can use web-based search facilities such as lenderpanel.com to find a conveyancing solcitor in Mildenhall on the mortgage company panel. You can go into your high street mortgage company branch in Mildenhall. They will know some good conveyancing solicitors in Mildenhall on the approved list.