We are purchasing a 1 bedroom flat in Prudhoe with a mortgage. We like our Prudhoe lawyer, but the lender says she’s not on their "panel". We have to appoint one of the bank panel firms or continue with our Prudhoe conveyancer and pay for one of their panel lawyers to represent them. We regard this is unjust; are we not able to require that the lender use our Prudhoe lawyer ?
Unfortunately,no. 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. A further alternative is for your Prudhoe conveyancing solicitor to apply to be on the conveyancing panel.
Is it possible for conveyancing in Prudhoe to be completed in under two weeks?
In the event that the seller is applying time constraints for your conveyancing we would recommend that your lawyer is familiar with the area as they will have local relationships and knowledge. It is possible that they would have transacted previoushouses in the same road. Therefore consider using a Prudhoe conveyancing solicitor. In addition, check that the lawyer is on the on the approved list for your mortgage company. It is estimated that 18% of Prudhoe conveyancing deals are frustrated or derailed after discovering a buyer’s lawyer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the legal transfer of property being held up by as much as 21 days. It is understood that this issue affects in the region of one hundred thousand home sales every year. Most Prudhoe conveyancing practices can not act for certain banks so do check as early as possible.
It is is a decade since I acquired my house in Prudhoe. Conveyancing solicitors have just been appointed on the sale but I can't locate my title deeds. Is this a problem?
You need not be too concerned. Firstly the deeds may be kept by your lender or they could be in the possession of the lawyers who oversaw the purchase. Secondly in all probability the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Most conveyancing in Prudhoe involves registered property but in the rare situation where your property is not registered it is more problematic but is not insurmountable.
I decided to have a survey completed on a property in Prudhoe before appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some banks may not give a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Prudhoe. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Prudhoe to see if the conveyancing will be more expensive.
Should I appoint a Prudhoe conveyancing lawyer in close proximity to the house I am buying? An old friend can execute the conveyancing but her office is over three hundred miles away.
The benefit of a high street Prudhoe conveyancing firm is that you can pop in to sign paperwork, present your identification documents and apply pressure on them if necessary. Having local Prudhoe know how is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and they were happy that should outweigh using an unfamiliar Prudhoe conveyancing solicitor solely due to them being local.
Living abroad it is not practicable to travel my Prudhoe conveyancing practitioners office to execute documents connected to my conveyancing in Prudhoe – will this be problematic?
Not a problem. Prudhoe conveyancing solicitors can handle conveyancing transactions for clients nationwide. You are unlikely to be required to attend a Prudhoe conveyancers office. Almost all lawyer can deal with all communications remotely from their Prudhoe office.