We are planning to purchase a 3 bedroom flat in Cheltenham with a mortgage. We would like to retain our Cheltenham lawyer, however the bank advise he's not on their "panel". It appears that we have little option but to use one of the bank panel solicitors or continue with our Cheltenham property lawyer and pay for one of their panel lawyers to act for them. This feels very unfair; can we not demand that the mortgage company use our Cheltenham lawyer ?
Unfortunately,no. 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 Cheltenham conveyancing lawyer to apply to be on the conveyancing panel.
The owners have very brash vendors who has insisted on a exclusivity agreement with a deposit two thousand pounds. Are such contracts generally advanced for Cheltenham conveyancing transactions?
This form of contract is not the norm in Cheltenham, conveyancers will often direct clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the lawyer is left exposed. Secondly, there is no certainty that just because the proprietor has signed a lock out agreement they will complete the sale with you. They may be in contravention of the agreement if they receive a large enough offer to do so because an aggrieved claimant with the benefit of a lockoutcontract will still be legally obliged to show losses as a consequence of the breach and this may not equate the extra amount that your seller may gain by reneging on the agreement, no matter how morally unworthy that may be.
Is there a search tool that I can use to discover of the solicitor conducting my conveyancing in Cheltenham is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus paying £187.00 plus VAT in additional legal costs.
You should make use of the find a conveyancing panel solicitor tool on this site. Pick the mortgage company and type ‘Cheltenham’ or your location and you will discover a number of lawyer offices in Cheltenham or by proximity to you.
3 months have gone by following my purchase conveyancing in Cheltenham concluded. 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 property 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 need to instruct a conveyancing solicitor for leasehold conveyancing in Cheltenham. I happened to stumble across a site which looks to be the ideal answer If there is a chance to get all this stuff completed via web that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?