We are buying a 3 bedroom apartment in Chellaston with a mortgage. We would like to retain our Chellaston solicitor, but the bank says she’s not on their "panel". It seems we have little option but to appoint one of the bank panel firms or continue with our Chellaston lawyer as well as pay for one of their panel ones to represent them. We consider that this is inequitable; 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 Chellaston conveyancing solicitor to apply to be on the conveyancing panel.
The Chellaston conveyancing firm handling our Chellaston conveyancing has spotted a discrepancy when comparing the information in the home valuation survey and what is in the legal papers for the property. My solicitor informs me that he is duty bound to check that the bank is OK with this discrepancy and is still content to lend. Is my lawyer’s stance appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Is there a search tool that I can utilise to investigate if the solicitor handling my conveyancing in Chellaston is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Skipton Building Society thus spending £175.00 in additional conveyancing fees.
Please do make the most of the search tool on this web page. Pick the mortgage company and type ‘Chellaston’ or your preferred area and you will see numerous solicitors offices in Chellaston or nearest you.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The solicitors who dealt with the conveyancing in Chellaston 5 years ago no longer exist. Will I be able to sell the house?
Nowadays there are duplicates made of almost everything, and your conveyancer will know precisely where to locate all the suitable paperwork so you may purchase or dispose of your property without any difficulty. Where copies can’t be found, your solicitor may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on your premises.
I'm converting the mortgage on my primary home to a buy to let loan with Santander and intend to use the remaining equity as a down payment on a second house. The area we are interested in is Chellaston. Will your lawyers be able to act for both sets of banks and link together the transactions?
Do use our comparison tool on this page to check that the conveyancers are approved by both mortgage companies. Assuming that they are your lawyer should be able to simultaneously deal with the two transactions but you should talk with you lawyer and make clear your expectations and requirements.