We are buying a 3 bedroom apartment in Acton with a mortgage from Accord Mortgages Ltd.We have a Acton conveyancing lawyer but Accord Mortgages Ltd says her practice is not on their approved list of firms. We have to appoint a Accord Mortgages Ltd panel solicitor or retain our preferred solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan issued to you contains terms and conditions, a common one being that lawyers will be on the Accord Mortgages Ltd conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Accord Mortgages Ltd
I am assisting my niece sell her flat in Acton. Does the conveyancer arrange the energy assessment or it is for the owner to coordinate?
After the abolition of HIPs, EPC’s became a required element of selling a property. An energy assessment needs to be commissioned prior to the property being marketed. It is not something that solicitors normally arrange. If you are instructing a Acton conveyancing solicitor they might be able to arrange energy performance certificates due to their relationships with long established local providers
I have a mortgage with Aldermore for my property in Acton. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Aldermore?
You must advise Aldermore before renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. It may be that Aldermore will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. You need not do this via a Aldermore conveyancing panel solicitor.
It is unclear whether my lender requires a lease extension. I have called my Acton building society branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Acton conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their specific requirements. I simply don't know who is right.
Provided that the property lawyer is on the mortgage company panel, they must adhere to the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a house in Acton? or I am told that there is an ancient law that means some owners of property living in a parish church boundary will be compelled to pay for repairs to the chancel in proximity to the church. Is this applicable for conveyancing in Acton?
Unless a previous purchase of the premises took place after 12 October 2013 you could take it that lawyers conducting conveyancing in Acton to continue to propose a a chancel search and or chancel repair liability policy.
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. Acton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Acton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Acton you must be sure that your lawyer goes 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 Acton 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 right to be concerned by brokers that I am dealing with are recommending an internet conveyancing firm rather than a High Street Acton conveyancing practice?
As is the case with lots of professional services, often recommendations from relatives can be extremely useful or valuable. Nevertheless there are many people with a keen interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all recommend lawyers to select. On occasion these conveyancers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes financial incentive behind the recommendation. You have the discretion to select your preferred conveyancer. However, bear in mind that many lenders operate an approved list of law firms you are obliged to use for the mortgage aspect of your conveyancing.