Me and my fiance are planning to purchase a 3 bedroom apartment in Shenley Brook End with a mortgage. We would like to retain our Shenley Brook End lawyer, but the lender says she’s not on their "panel". We have to appoint one of the bank panel firms or keep our Shenley Brook End solicitor and pay for one of their panel ones to act for them. We regard this is unjust; are we not able to demand that the lender use our Shenley Brook End solicitor ?
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 Shenley Brook End conveyancing solicitor to apply to be on the conveyancing panel.
I am under pressure from the executor of a property in Shenley Brook End to sign contracts within four weeks. What can I do to speed up matters?
First, If the seller is applying time constraints to sign contracts it is advisable to make sure that your conveyancer is familiar with the area as they will benefit local connections and knowledge. It is even conceivable that they may have transacted otherproperties in the same neighbourhood. You would be best advised to use a Shenley Brook End conveyancing solicitor. In addition, check that the lawyer is on the member panel. It is estimated that 18% of Shenley Brook End conveyancing transactions are frustrated or derailed after discovering a purchaser’s conveyancer was not on their banks panel. This can often result in the legal process being held up by an average of three weeks. It is believed that this issue impacts approximately 100,000 home sales every year. Many Shenley Brook End conveyancing practices can not act for certain lenders so do check as early as possible.
We note that you have a search directory listing law firms on the Clydesdale conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Shenley Brook End?
We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Shenley Brook End.
Should our conveyancer be raising questions concerning flooding as part of the conveyancing in Shenley Brook End.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Shenley Brook End. There are those who buy a house in Shenley Brook End, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a various checks that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Shenley Brook End. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine whether the property has ever been flooded. If flooding has previously occurred which is not disclosed by the seller, then a purchaser could commence a claim for damages resulting from an misleading answer. A buyer’s lawyers may also commission an environmental search. This should reveal if there is a recorded flood risk. If so, further inquiries will need to be initiated.
Due to the guidance of my in-laws I had a survey completed on a house in Shenley Brook End ahead of instructing solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some lenders will not give a loan on a flying freehold house.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you contact us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Shenley Brook End. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shenley Brook End to see if the conveyancing will be more expensive.
I'm refinancing my current property to a buy to let loan with Alliance & Leicester and I will use the rest of the raised equity as a down payment on another property. The neighborhood we are interested in is Shenley Brook End. Will your lawyers be able to act for the two mortgage companies and tie in the transactions?
Make use of our comparison tool on this page to be sure that the solicitors are on the appropriate lender panels. Assuming that they are your solicitor will be able to connect the two conveyancing matters but you should have a chat with you conveyancer and make clear your expectations and requirements.