Me and my fiance are purchasing a leasehold flat in Beckenham. My Solicitor has never been on on the lender solicitor list. Is it possible for me to continue with my Beckenham conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
You will need to use a conveyancing practitioner to complete the legal work required if you require a loan to purchase your property. The conveyancer will conduct all the appropriate investigations on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. One could instruct a Beckenham conveyancing practitioner of your choosing. Nevertheless, if the lawyer selected is not a member of the bank approved list additional costs will be incurred as separate legal representation will be required by them. Bank panel applications can be submitted, so if your conveyancer has not previously sought membership they should do so.
Finally the sale completed on my house in Beckenham last October but my buyer keeps calling every few hours to moan that his conveyancer needs to hear from mine. What should my lawyer have done now that I have sold?
Post completion of your sale your conveyancer should forward the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. If applicable, your lawyer must also evidence that the home loan has been paid off to the purchasers conveyancers. There is unlikely to be post completion procedures just for conveyancing in Beckenham.
My fiance and I are buying a newbuild apartment in Beckenham with a loan from Lloyds TSB Bank.We would like to retain our Beckenham conveyancing practitioner but Lloyds TSB Bank says his firm is not on their approved list of member firms. We have to appoint a Lloyds TSB Bank panel lawyer or retain our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Lloyds TSB Bank use our lawyer?
Unfortunately,no. The home loan offered to you contains various provisions, a common one being that solicitors will be on the Lloyds TSB Bank conveyancing panel. in the past, most banks had large numbers of solicitors 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 Lloyds TSB Bank
Various online forums that I have visited warn that are the main reason for stalling in Beckenham conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Beckenham.
I decided to have a survey carried out on a property in Beckenham in advance of appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some lenders will refuse to give a loan on such a premises.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Beckenham. Conveyancing will be smoother if you use a solicitor in Beckenham especially if they are accustomed to such properties in Beckenham.