Me and my partner are purchasing a 3 bedroom flat in Shepherd's Bush with a mortgage. We would like to retain our Shepherd's Bush lawyer, however the lender says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Shepherd's Bush solicitor as well as pay for one of their panel ones to represent them. We consider that this is unjust; is there anything we can do?
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 Shepherd's Bush conveyancing lawyer to apply to be on the conveyancing panel.
Can you explain why leasehold purchase conveyancing in Shepherd's Bush is more expensive?
Shepherd's Bush leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
We have a mortgage agreed in principle with Virgin Money. Shepherd's Bush conveyancing practitioners were selected. How long does it take for Virgin Money to forward the offer to the solicitor?
Some lenders take longer than others. Have Virgin Money completed the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my Shepherd's Bush building society branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Shepherd's Bush conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
As long as the conveyancer is on the mortgage company panel, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
After months of negotiation I have agreed a price on an apartment in Shepherd's Bush. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an on account payment of £200. A couple of days later, the property lawyer called me sheepishly admitting that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
A relative recommended that where I am purchasing in Shepherd's Bush I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Shepherd's Bush conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Shepherd's Bush around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Shepherd's Bush Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Shepherd's Bush.
Due to the advice of my in-laws I had a survey completed on a house in Shepherd's Bush before retaining solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies will refuse to give a mortgage on this type of home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Shepherd's Bush. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shepherd's Bush to see if the conveyancing costs will increase in light of this.
I need to instruct a conveyancing solicitor for sale conveyancing in Shepherd's Bush. I have discover a web site which appears to be the perfect offering If there is a chance to get all this stuff done via email that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?