We are purchasing a 1 bedroom flat in Shoreditch with a mortgage. We have a Shoreditch conveyancer, but the bank advise he's not on their "panel". It appears that we have no option but to appoint one of the mortgage company panel conveyancing practices or keep our Shoreditch solicitor as well as pay for one of their panel lawyers to act for them. We feel that 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 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 Shoreditch conveyancing lawyer to apply to be on the conveyancing panel.
My solicitor has identified a a problem with the lease for the flat we are purchasing in Shoreditch. The other side have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must ensure that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have been referred to a conveyancing solicitor in Shoreditch. I I would like to check if they are accepted on the Britannia conveyancing panel. Could you advise?
The first thing you should do is call your solicitor and ask them whether they can act for the lender. Otherwise please get in touch with Britannia who may be able to assist.
I am buying a new build flat in Shoreditch. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Shoreditch
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I need to retain a conveyancing solicitor for leasehold conveyancing in Shoreditch. I have stumble across a site which looks to be the perfect solution If it is possible to get all formalities done via email that would be ideal. Should I be wary? What should out be looking out for?
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?
My wife and I have recently appointed a conveyancing solicitor in Shoreditch. I I would like to check if they are on the lender's approved list of lawyers. Can you help?
It’s a good idea contact your conveyancer to check if they are on the bank's panel. Alternatively please call us and we can investigate and revert. Should the firm not be on the lender panel we can certainly arrange a quality conveyancing solicitor in Shoreditch on the panel for your lender.