Me and my partner are buying a 3 bedroom apartment in Brading with a mortgage. We wish to retain our Brading conveyancer, but the bank says he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Brading conveyancer as well as pay for one of their panel ones to represent them. This seems very unfair; 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 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 Brading conveyancing solicitor to apply to be on the conveyancing panel.
How up to date is your database of Brading solicitors on the Nottingham conveyancing panel? Do Nottingham send you an updated list?
Brading conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
My lawyer in Brading is not listed on the Bank of Ireland Conveyancing Panel. Can I still retain my prefered solicitor even though they are not on the Bank of Ireland panel?
Your options are as follows:
- Carry on with your existing Brading solicitors but Bank of Ireland will need to retain a solicitor on their list of acceptable firms. This will result in additional overall legal charges and result in frustration.
- Find an alternative lawyer to to deal with the conveyancing, obviously checking they are on the Bank of Ireland panel
4 months have gone by following my purchase conveyancing in Brading took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in Brading. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Brading
Please confirm the Lease plans are architect prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.