We are hoping to purchase a 1 bedroom flat in West Malling with a mortgage. We wish to retain our West Malling lawyer, but the lender advise he's not on their "panel". We have to appoint one of the bank panel firms or continue with our West Malling conveyancer as well as pay for one of their panel ones to represent them. This feels very unfair; can we not require that the mortgage company use our West Malling lawyer ?
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 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 West Malling conveyancing lawyer to apply to be on the conveyancing panel.
I have given 2 months notice to my current landlord and have to leave my rented apartment in West Malling by the end of next month. Conveyancing on my purchase has just started. Is it possible to complete in 5 weeks as don't want to have to move into temporary accommodation?
Generally one should not serve notice on a rental until exchange of contracts has taken place. Assuming that you have not previously done so, speak to your lawyer and request that they chase the sellers lawyers, try to a target completion date that everyone will work towards
We are purchasing a property and require a conveyancing solicitor in West Malling who is on the Leeds Building Society approved panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in West Malling.
I had intended to instruct a property lawyer in West Malling for our home move. Our financial adviser has since advised us that our mortgage lenders Norwich and Peterborough Building Society won't deal with them. Surely this is unfair competition?
Mortgage Companies in the main imposes restrictions either the type or the amount of conveyancing practices on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the profile of firm, a few banks have reduced the number of solicitor practices they permit to represent them. Be aware that Norwich and Peterborough Building Society have no responsibility for the quality of advice provided by any member of Norwich and Peterborough Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels a few years ago even though there remains mixed opinions concerning the extent of solicitor engagement in some of that fraud. Data from the Land Registry reveal that thousands of law firms, including some in or near West Malling only perform very few conveyances a year.
I have been told that property searches are the primary reason for delay in West Malling conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in West Malling.
Our lawyer in West Malling has uncovered a a legal deficiency with the lease for the apartment we are purchasing in West Malling. The other side have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your West Malling conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements must be adhered to by the mortgage company conveyancing panel who has to balance acting for you and the mortgage company