We are buying a 3 bedroom apartment in Towcester with a mortgage. We like our Towcester solicitor, but the bank advise he's not on their "panel". It seems we have little choice but to select one of the bank panel solicitors or continue with our Towcester property lawyer and 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. 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. Another option that might be available is for your Towcester conveyancing solicitor to apply to be on the conveyancing panel.
How up to date is your search tool for Towcester conveyancing solicitors on the Coventry BS conveyancing panel? Do Coventry BS send you an updated list?
Towcester conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
My fiance and I wish to acquire a newly converted apartment in Towcester with a residential mortgage from Platform Home Loans Ltd.We would like to retain our Towcester conveyancing practitioner but Platform Home Loans Ltd advised that she’s not on their approved list of member firms. It seems we are left with little choice but to instruct a Platform Home Loans Ltd panel firm or retain our local solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Platform Home Loans Ltd use our lawyer?
No, not really. The home loan issued to you is subject to its various provisions, one of which will be that lawyers must be on the Platform Home Loans Ltd approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Platform Home Loans Ltd
Should my conveyancer be asking questions about flooding during the conveyancing in Towcester.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Towcester. Some people will acquire a house in Towcester, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, but there are a number of checks that can be carried out by the buyer or by their conveyancers which can give them a better appreciation of the risks in Towcester. The conventional set of information given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the vendor to find out whether the premises has suffered from flooding. If the property has been flooded in past which is not revealed by the owner, then a buyer could commence a compensation claim as a result of such an misleading reply. The buyer’s lawyers should also order an environmental report. This should reveal whether there is any known flood risk. If so, further investigations should be initiated.
2 months have gone by following my purchase conveyancing in Towcester concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Given that I will soon part with hundreds of thousands of pounds on a garden flat in Towcester I wish to have a conversation with the lawyer about myhome move before appointing the firm. Can this be arranged?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you liaising with the conveyancer due to be doing your conveyancing in Towcester.There is no ‘factory style conveyancing’ - each client is unique individual, not a file number. The law firms that we put you in touch with believe that the figure you are quoted for residential conveyancing in Towcester should be the figure that you end up paying.