Me and my partner are purchasing a 3 bedroom apartment in Quorn with a mortgage. We have a Quorn lawyer, however the mortgage company says he's not on their "panel". It seems we have little choice but to instruct one of the lender panel firms or retain our Quorn conveyancing practitioner as well as pay for one of their panel ones to represent them. We feel that this is unjust; are we not able to require that the lender use our Quorn conveyancer ?
Unfortunately,no. 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. A further alternative is for your Quorn conveyancing lawyer to apply to be on the conveyancing panel.
My partner and I are nearing an exchange on a property in Quorn and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Completed the sale of my flat in Quorn last May yet the purchaser is SMS messaging every few hours to say her lawyer is waiting to hear from myconveyancer. What are the post completion sale legalities following completion?
Following your disposal your conveyancer should send the transfer deeds and all supplemental paperwork to the purchaser's solicitors. If applicable, your solicitor should also confirm that the legal charge in favour of the lender has been discharged to the buyers solicitors. There is unlikely to be post completion formalities unique to conveyancing in Quorn.
We had instructed conveyancers based in Quorn on the Leeds Building Society solicitor panel. They are now charging me an additional charge for handling the Leeds Building Society mortgage. Is this an additional conveyancing fee set by Leeds Building Society?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer may levy a fee for this. The fee is not set by Leeds Building Society but by your Quorn conveyancer. Plenty of firms on the Leeds Building Society panel will charge ’dealing with mortgage’ fee and others do not.
My husband and I are spending time viewing apartments in Quorn and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with RBS.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are obtaining a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I have a mortgage with Kent Reliance for my property in Quorn. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention before letting out your property as this is likely to be a breach of Kent Reliance’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 Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel lawyer.
I am looking for a ground for flat up to £245,000 and identified one near me in Quorn I like with open areas and railway links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Quorn suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I'm refinancing my primary home to a buy to let mortgage with Barclays Direct and intend to use the remaining equity as a down payment on further house. The location we are looking at is Quorn. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Do use our comparison tool on this page to ensure that the lawyers are on the relevant lender panels. Assuming that they are the lawyer should be able to simultaneously deal with the two deals but you should talk with you lawyer and make clear your expectations and needs.