I was informed yesterday by my mortgage broker that my West Norwood property lawyer is not on the lender Solicitor panel. What can I do to be sure whether this is correct?
The best course of action for you to take is to call your West Norwood lawyer directly. It is reasonable to expect your lawyer to notify you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
The sellers of the house we are hoping to buy have appointed a conveyancing solicitor in West Norwood who has recommended a exclusivity contract with a down payment of 5k. Are such agreements sensible?
This kind of preliminary agreement is not the norm in West Norwood, conveyancers are not keen on them as they detract from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Furthermore, there is no certainty that just because the vendor has entered into an exclusivity contract they will complete the sale with you. They may breach the agreement if they are offered sufficient incentive to do so because an aggrieved buyer with the benefit of a exclusivitycontract will still be duty bound to show losses as a consequence of the breach and these may not equalise the extra amount that your vendor may obtain by reneging on the agreement, no matter how morally unworthy it undoubtedly is.
We see that you have a search directory identifying solicitors on the RBS conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in West Norwood?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in West Norwood.
Are the BSA planning on creating a searchable register to to identify solicitors on the Earl Shilton BS conveyancing panel for instance in West Norwood?
We are not aware of any plans on the part of the BSA to promote such a register.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. West Norwood is where the house is located. What do you suggest?
Flying freeholds in West Norwood are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside West Norwood you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Norwood 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.
I'm converting the mortgage on my current property to a buy to let loan with Halifax and intend to use the remaining equity towards further house. The neighborhood we are looking at is West Norwood. Will your solicitors be able to act for the two mortgage companies and link together the conveyances?
Do use our search tool on this page to be sure that the solicitors are approved by both lenders. Having checked that they are the lawyer should be able to simultaneously deal with the two conveyancing matters but you should talk with you solicitor and make clear your expectations and requirements.