We are hoping to purchase a 3 bedroom apartment in Buckingham with a mortgage. We wish to retain our Buckingham lawyer, but the lender says he's not on their "panel". It seems we have no option but to instruct one of the mortgage company panel firms or retain our Buckingham solicitor as well as pay for one of their panel firms to represent them. This feels very unfair; are we not able to insist that the lender use our Buckingham lawyer ?
No, not really. Your mortgage offer 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. Another option that might be available is for your Buckingham conveyancing solicitor to apply to be on the conveyancing panel.
This question may be naive but I am unseasoned as a first time purchaser of a ground floor flat in Buckingham. Do I collect the keys to the property on completion from my solicitor? If this is the case, I will appoint a local conveyancing solicitor in Buckingham?
On the day of completion you will not be required to attend the conveyancers office in Buckingham. Conveyancing lawyers for you will arrange to send the completion advance to the owner’s solicitors, and once they have received this, you will be invited to collect the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
We previously appointed conveyancers locally in Buckingham on the Principality solicitor approved list. They are now charging me an additional charge for dealing with the Principality mortgage. Is this a supplemental conveyancing fee specified by Principality?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancer can levy a fee for this. This fee is not dictated by Principality but by your Buckingham conveyancing practitioner. Some firms on the Principality panel will charge ’dealing with mortgage’ fee and others do not.
After weeks of negotiation I have agreed a price on a house in Buckingham. My mortgage broker suggested a conveyancer. I paid an on account payment of £225. A couple of days later, the solicitor contacted me sheepishly admitting that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Buckingham differ for newly converted properties?
Most buyers of new build residence in Buckingham approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because developers in Buckingham typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Buckingham or who has acted in the same development.
How can the Landlord & Tenant Act 1954 affect my commercial premises in Buckingham and how can your lawyers assist?
The particular law that you refer to gives a safeguard to business leaseholders, giving them the a statutory right to make a request to court for a new lease and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Buckingham is one of the many locations in which our lawyers have offices
My brother has suggested that I use his conveyancers in Buckingham. Do I take his recommendation?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to seek referrals from friends or relatives who have actually used the firm that you are are thinking of instructing.