Me and my fiance are purchasing a 1 bedroom flat in Parson Cross with a mortgage. We like our Parson Cross conveyancer, however the mortgage company advise he's not on their "panel". It seems we have no option but to select one of the bank panel solicitors or retain our Parson Cross lawyer and pay for one of their panel lawyers to represent them. We regard this is unjust; 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 Parson Cross conveyancing solicitor to apply to be on the conveyancing panel.
We see that you have a post code search directory identifying firms on the HSBC conveyancing panel. Do firms pay you a commission if I retain them for our conveyancing in Parson Cross?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Parson Cross.
Forgive me if this question is silly but I am wet behind the ears as a first time buyer of a two bedroom flat in Parson Cross. Do I collect the keys to the premises on completion from my solicitor? If so, I will find a local conveyancing solicitor in Parson Cross?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s conveyancers, and once they have received this, you will be called to collect the keys from the selling Agents and move into your new home. Usually this happens early afternoon.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Parson Cross conveyancer on the Nationwide panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
The mortgage over my property is with Co-operative for my property in Parson Cross. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
Your original mortgage agreement with Co-operative will provide that you need their approval prior to letting out your property as this is likely to be a breach of Co-operative’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel lawyer.
four months have gone by following my purchase conveyancing in Parson Cross concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build apartment in Parson Cross. Conveyancing is a frightening process 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 legal work.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Parson Cross
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Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I'm refinancing my existing property to a BTL mortgage with Lloyds TSB Bank and I will use the rest of the raised equity towards a second property. The area we are looking at is Parson Cross. Will your conveyancers be able to act for both sets of lenders and link together the transactions?
Do use our search tool on this site to be sure that the lawyers are on the relevant lender panels. Having checked that they are your lawyer should be able to connect the two conveyancing matters but you should talk with you solicitor and specify your expectations and needs.