we are a couple who are buying a newbuild apartment in Frenchay with a mortgage from National Westminster Bank.We like our Frenchay conveyancing solicitor but National Westminster Bank says she’s not listed on their "panel". We have to appoint a National Westminster Bank panel lawyer or keep our high street solicitor and pay for a National Westminster Bank panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage issued to you contains various provisions, a common one being that conveyancers must be on the National Westminster Bank solicitor panel. Until recently, most banks 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for National Westminster Bank
Just acquired a detached house in Frenchay , how long should it take for the Land Registry to record my title? My Frenchay conveyancing solicitor has been painfully slow, so I want to check the registration is dealt with.
As far as conveyancing in Frenchay is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether there are errors and whether the Land registry must send notices to any interested parties. At present roughly three quarters of such applications are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Historically registration occurs after the buyer is living at the property therefore an expedited registration is not always primary concern but if there is a degree of urgency associated with the registration then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I decided to have a survey completed on a property in Frenchay ahead of retaining solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks may not grant a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Frenchay. Conveyancing will be smoother if you use a solicitor in Frenchay especially if they are familiar with such properties in Frenchay.
I am looking at a two flats in Frenchay both have in the region of forty five years left on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorates and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field.
Frenchay Leasehold Conveyancing - Sample of Queries Prior to buying
The best form of lease structure is where the freehold reversion is owned by the leaseholders. In this arrangement the lessees have control and even though a managing agent is often employed where the building is bigger than a house conversion, the managing agent retained by the leaseholders. How much is the ground rent and service charge?
Our lenders have just issued us with a mortgage offer. We have retained a reputable conveyancer in Frenchay two days ago. A couple of hours ago, our mortgage adviser contacted us saying that the bank said that we cannot use our solicitor as they aren't on their panel. As novices, we did not have a clue that the mortgage company had a say Is this allowed?
You are permitted to appoint any property lawyer you wish to use for your conveyancing in Frenchay but if they are not on the your lender's approved list you must incur an extra fee so the mortgage company can appoint their own lawyers. It may be possible your solicitor may apply to get included on to the lender panel. You can use online tools including lenderpanel.com to find a conveyancing solcitor in Frenchay on the lender panel. You can go into your local lender branch in Frenchay. They can recommend conveyancing solicitors in Frenchay on the mortgage company panel.