Me and my partner are hoping to acquire a 2 bedroom apartment in Waltham with a mortgage. We have a Waltham lawyer, but the bank says she’s not on their "panel". It appears that we have no option but to select one of the mortgage company panel solicitors or retain our Waltham conveyancer and pay for one of their panel firms to act for them. We regard 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 Waltham conveyancing solicitor to apply to be on the conveyancing panel.
Can you explain why leasehold purchase conveyancing in Waltham is more expensive?
Waltham leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My flat in Waltham is up for sale and I have a purchaser. Will the conveyancer have to be required to be on the Coventry BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
How does conveyancing in Waltham differ for newly converted properties?
Most buyers of new build property in Waltham approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Waltham 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 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 used to new build conveyancing in Waltham or who has acted in the same development.
Is it simple use your search tool to find a conveyancing solicitor in Waltham on the panel for my bank?
Step one is to pick a bank such as National Westminster Bank, Coventry Building Society or Clydesdale then type in your preferred area e.g. Waltham. Conveyancing organisations in Waltham and nationally should be shown.
I am an executor of my recently deceased aunt’s Will, with a property in Waltham which will be sold. The bungalow has never been registered at the Land Registry and I'm told that many EAs will insist that it is done before they'll move forward. What's the procedure for this?
In the situation that you have set out it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.