Me and my partner are intending to acquire a 2 bedroom flat in Egham with a mortgage. We like our Egham conveyancer, however the mortgage company says he's not on their "panel". It seems we have little option but to appoint one of the mortgage company panel firms or keep our Egham conveyancing practitioner as well as pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
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 Egham conveyancing solicitor to apply to be on the conveyancing panel.
Our conveyancer has uncovered a defect with the lease for the apartment we are buying in Egham. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer has advised that he must be satisfied that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. The appropriate lender specifications have to be complied with.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Egham. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 11/7/2019, the requirements read as follows :
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial property in Egham?
Many commercial conveyancing solicitors in Egham will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Egham. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Egham.
For each commercial conveyancing transaction in Egham it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Egham commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Egham.
What does commercial conveyancing in Egham cover?
Commercial conveyancing in Egham covers a wide array of advice, given by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.