We are intending to acquire a 1 bedroom flat in Broughton In Furness with a mortgage. We would like to retain our Broughton In Furness conveyancer, however the mortgage company says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Broughton In Furness property lawyer and pay for one of their panel firms to act for them. We feel that this is unjust; 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 Broughton In Furness conveyancing solicitor to apply to be on the conveyancing panel.
The Broughton In Furness conveyancing firm handling our Broughton In Furness conveyancing has identified a discrepancy between the information in the home valuation survey and what is revealed within the title deeds. My solicitor says that he needs to check that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s stance legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
My uncle passed away last year and as sole heir and executor I was left the house in Broughton In Furness. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then Nottingham will insist on your using a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Broughton In Furness is the location of the property. Can you offer any advice?
Flying freeholds in Broughton In Furness are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Broughton In Furness 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 Broughton In Furness may determine 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.
Am I best advised to instruct a Broughton In Furness conveyancing lawyer based in the area that I am buying? An old friend can conduct the legal work but her office is 300kilometers away.
The primary upside of using a high street Broughton In Furness conveyancing practice is that you can pop in to sign paperwork, present your ID and pester them if necessary. Having local Broughton In Furness know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and they were happy that must surpass using an unfamiliar Broughton In Furness conveyancing lawyer just because they are based in the area.