Me and my partner are purchasing a 2 bedroom flat in Cambridge with a mortgage. We like our Cambridge lawyer, but the lender says she’s not on their "panel". It seems we have little choice but to select one of the lender panel firms or keep our Cambridge conveyancer as well as pay for one of their panel firms to represent them. We feel that this is unjust; are we not able to insist that the mortgage company use our Cambridge solicitor ?
No, not really. Your mortgage offer 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 Cambridge conveyancing solicitor to apply to be on the conveyancing panel.
I am thinking of mortgaging my house in Cambridge, does my lawyer have to be on the Coventry BS Solicitor panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
3 months have elapsed following my purchase conveyancing in Cambridge concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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'm refinancing my existing home to a buy to let mortgage with HSBC Bank and intend to use the remaining equity towards further property. The area we are looking at is Cambridge. Will your conveyancers be able to act for both sets of lenders and tie in the transactions?
Make use of our search tool on this site to ensure that the lawyers are approved by both banks. Having checked that they are the conveyancer should be able to connect the two transactions but you should talk with you conveyancer and specify your expectations and needs.
Been searching for a property lawyer for freehold sale conveyancing in Cambridge. I'm selling, simple no mortgage to redeem, no rush, no onward chain. Received a quote from a property lawyer for nine hundred pounds plus VAT which is a tad expensive given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Cambridge?
Considering it’s a sale only, £450 + VAT would be about the best for a Cambridge solicitor firm.