My wife and I are buying a 1 bedroom apartment in Monken Hadley with a mortgage. We wish to retain our Monken Hadley lawyer, but the bank advise he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Monken Hadley conveyancing practitioner and pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
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 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 Monken Hadley conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are nearing an exchange on a property in Monken Hadley and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your conveyancer is duty bound to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
If you had a top tip for choosing a conveyancing solicitor in Monken Hadley what would it be?
We would encourage you not to go for the cheapest Monken Hadley conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We previously instructed solicitors locally in Monken Hadley on the UBS solicitor approved list. They are now charging me a separate fee for the legal aspects of the UBS mortgage. Is this a supplemental conveyancing fee set by UBS?
Provided it is contained in their Terms and Conditions or Quote then yes your solicitor is entitled to levy a fee for this. The charge is not set by UBS but by your Monken Hadley property lawyer. Plenty of firms on the UBS panel will levy ’dealing with mortgage’ fee but many firms incorporate it on their overall fee.
After shopping around on the internet I have found a Monken Hadley property lawyer having made sure that they are on the Aldermore conveyancing panel. Does my lawyer arrange the survey of the property?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Monken Hadley postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in Monken Hadley.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Monken Hadley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Monken Hadley
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I opted to have a survey done on a house in Monken Hadley in advance of appointing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend not grant a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Monken Hadley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Monken Hadley to see if the conveyancing will be more expensive.
I need to instruct a conveyancing lawyer in Monken Hadley for my sale. Can I see a firm’s record with the profession’s regulator?
Members of the public may search for documented Solicitor Regulator Association (SRA) determinations arising from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator may recorded telephone calls for training purposes.