We are purchasing a 2 bedroom apartment in Towcester with a mortgage. We wish to retain our Towcester solicitor, however the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Towcester lawyer and pay for one of their panel lawyers to act for them. We feel that this is inequitable; are we not able to insist that the lender use our Towcester lawyer ?
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. Another option that might be available is for your Towcester conveyancing lawyer to apply to be on the conveyancing panel.
My son is in the process of securing a new build apartment in Towcester with a home loan from Bank of Ireland. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My Solicitor in Towcester has never been on on the National Westminster Bank Approved Panel. Is it possible for me to use my prefered solicitor even though they are excluded from the National Westminster Bank list of approved lawyers?
The limited options open to you here include:
- Carry on with your preferred Towcester lawyers but National Westminster Bank will need to use a solicitor on their panel. This will result in additional overall legal charges and result in delays.
- Find an alternative practitioner to to deal with the conveyancing, obviously checking they are Convince your conveyancer to do everything within their powers to join the National Westminster Bank conveyancing panel
Despite weeks of looking the Title Certificate and documents to my home can not be found. The conveyancers who conducted the conveyancing in Towcester 5 years ago no longer exist. What are my next steps?
Gone are the days when you need to have the physical original deeds to establish that you are the owner of your registered land or premises, as the Land Registry have everything they need in a digital format.
I need to retain a conveyancing solicitor for sale conveyancing in Towcester. I happened to land on a web site which seems to have the perfect solution If it is possible to get all the legals done via phone that would be ideal. Should I be concerned? 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?
I only have Seventy years left on my flat in Towcester. I am keen to extend my lease but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the landlord. In some cases an enquiry agent should be helpful to conduct investigations and prepare a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing Towcester.
I bought a leasehold flat in Towcester, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Towcester with a long lease are worth £260,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2099
With just 74 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.