We are planning to acquire a 2 bedroom apartment in Shaw with a mortgage. We have a Shaw conveyancer, however the lender says she’s not on their "panel". We have to appoint one of the bank panel solicitors or keep our Shaw solicitor as well as pay for one of their panel firms to represent them. We regard this is inequitable; is there anything we can do?
No, not really. Your mortgage offer 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 Shaw conveyancing solicitor to apply to be on the conveyancing panel.
My fiancee and I are purchasing our first home. The conveyancer has calledto ask if we wish to take out supplemental conveyancing searches. We are really unsure what's necessary for conveyancing in Shaw
The range of Shaw conveyancing searches depends primarily on the premises, the location, the probability of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What is important is that you adequately comprehend what information each search could supply. You may then make a decision if you personally think you need that search. Should you be unclear, ask your conveyancer to guide you.
When it comes to lenders such as Coventry BS, do Shaw solicitors incur an annual charge to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Shaw conveyancer on the Nottingham panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham 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 Nottingham mortgage from the register. Nottingham, 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 Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
Coventry BS have agreed my mortgage in principle, my bid on a flat in Shaw has been agreed to, what happens next?
Your property agent will wish to know who your solicitors are (ensure that the conveyancing practitioners are on the bank’s approved list). Call up Coventry BS or the broker and complete any outstanding paperwork. Coventry BS will instruct a valuer who will get in contact with the selling agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Coventry BS will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Shaw.
Will my solicitor be raising questions concerning flooding during the conveyancing in Shaw.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Shaw. Plenty of people will purchase a house in Shaw, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a number of searches that may be undertaken by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Shaw. The conventional set of information sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to discover if the premises has historically flooded. If flooding has previously occurred which is not disclosed by the vendor, then a buyer could commence a claim for damages resulting from an misleading reply. A buyer’s conveyancers should also carry out an enviro search. This will disclose whether there is a recorded flood risk. If so, more detailed investigations should be carried out.
four months have elapsed since my purchase conveyancing in Shaw concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 premises 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.
My step-father has encouraged me to use his conveyancers in Shaw. Should I use them?
Much as we are happy to recommend a Shaw conveyancing lawyer the best way to choose a conveyancing lawyer is to have referrals from friends or family who have actually used the solicitor that you are considering.