My husband and I are buying a 2 bedroom apartment in St Anns with a mortgage. We wish to retain our St Anns solicitor, but the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our St Anns conveyancing practitioner as well as pay for one of their panel ones to represent them. This seems very unfair; are we not able to demand that the bank use our St Anns conveyancing practitioner ?
Unfortunately,no. The mortgage offered to you 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 St Anns conveyancing solicitor to apply to be on the conveyancing panel.
My Conveyancer in St Anns is not listed on the National Westminster Bank Approved Panel. Is it possible for me to retain my family solicitor notwithstanding that they are excluded from the National Westminster Bank panel?
The limited options available to you here include:
- Complete the purchase with your existing St Anns lawyers but National Westminster Bank will need to retain a conveyancer on their list of acceptable firms. This will inevitably rack up the overall conveyancing charges as well as cause delays.
- Find an alternative lawyer to act in the purchase, obviously checking they are Convince your solicitor to do everything within their powers to join the National Westminster Bank conveyancing panel
I have a renovated Georgian house in St Anns. Conveyancing practitioner acted for me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in St Anns and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing lawyer who carried out the work.
How does conveyancing in St Anns differ for newly converted properties?
Most buyers of new build or newly converted property in St Anns come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because house builders in St Anns typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in St Anns or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. St Anns is where the house is located. Can you shed any light on this issue?
Flying freeholds in St Anns are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St Anns you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Anns may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How do I use the search tool to get a quote from a conveyancing lawyer in St Anns on the approved list for my mortgage?
Step one is to pick a mortgage company such as National Westminster Bank, Barnsley Building Society or TSB then specify your location e.g. St Anns. Conveyancing practices in St Anns and beyond will then be listed.