My husband and I are purchasing a 3 bedroom apartment in Bestwood with a mortgage. We would like to retain our Bestwood conveyancer, however the mortgage company advise he's not on their "panel". It appears that we have little choice but to instruct one of the bank panel conveyancing practices or retain our Bestwood lawyer as well as pay for one of their panel lawyers to represent them. We regard this is unjust; is there anything we can do?
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 lender’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. A further alternative is for your Bestwood conveyancing lawyer to apply to be on the conveyancing panel.
The Bestwood conveyancing lawyers that I appointed last week on my house acquisition in Bestwood have without warning closed. I chose them because I needed a solicitor on the TSB conveyancing panel and my previous Bestwood lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Bestwood is where the house is located. Can you offer any advice?
Flying freeholds in Bestwood are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bestwood you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bestwood may decide 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 am selling my home. My previous conveyancers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Bestwood if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Bestwood. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
My step-father has recommend that I instruct his conveyancers in Bestwood. Should I use them?
No doubt the ideal way to select a conveyancing solicitor is to get recommendations from friends or family who have experience in using the firm that you are are thinking of instructing.