We are planning to acquire a 1 bedroom flat in Trowbridge with a mortgage. We wish to retain our Trowbridge lawyer, but the mortgage company advise she’s not on their "panel". It seems we have no option but to use one of the mortgage company panel conveyancing practices or retain our Trowbridge conveyancing practitioner and pay for one of their panel lawyers to represent them. We regard this is unjust; are we not able to require that the lender use our Trowbridge conveyancer ?
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 Trowbridge conveyancing lawyer to apply to be on the conveyancing panel.
Our bank has suggested a law firm on their panel based in Trowbridge but I would rather instruct a conveyancing lawyer in Trowbridge or nearer to where I live. Can you assist?
Far from all Trowbridge conveyancing solicitors are on all lender’s conveyancing panel. Do make use of the above find an approved solicitor tool to identify a Trowbridge conveyancing conveyancer on the on the lender panel.
It has been five months following my purchase conveyancing in Trowbridge took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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.
How does conveyancing in Trowbridge differ for newly converted properties?
Most buyers of new build premises in Trowbridge approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because new home sellers in Trowbridge tend to acquire the land, 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 conveyancers 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 used to new build conveyancing in Trowbridge or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Trowbridge is the location of the property. Can you offer any guidance?
Flying freeholds in Trowbridge are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Trowbridge you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Trowbridge may ascertain 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 property.
Are there any apps to assist me to locate a Trowbridge law firm on the Clydesdale conveyancing panel? I am a keen cyclist and am prepared to travel upto 20miles to meet the conveyancer.
You can use the facility on this page. Please select a bank and your location and you will see a number of Trowbridge conveyancing lawyers located nearest you. We have detailed some Trowbridge conveyancing firms at the bottom of this page and you can ring them to check whether they are on the Clydesdale panel