We are intending to buy a 2 bedroom flat in Horley with a mortgage. We would like to retain our Horley lawyer, however the lender says she’s not on their "panel". We have to appoint one of the bank panel solicitors or continue with our Horley solicitor and pay for one of their panel firms to represent them. We feel that this is unjust; 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 lender’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 Horley conveyancing lawyer to apply to be on the conveyancing panel.
Should our lawyer be making enquiries concerning flooding during the conveyancing in Horley.
The risk of flooding is if increasing concern for lawyers dealing with homes in Horley. Some people will buy a house in Horley, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a number of searches that can be carried out by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Horley. The standard property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to discover if the property has suffered from flooding. If the residence has been flooded in past and is not revealed by the seller, then a buyer could commence a compensation claim as a result of such an inaccurate response. The buyer’s lawyers will also conduct an enviro search. This will reveal if there is a recorded flood risk. If so, further inquiries should be conducted.
I am looking for a leasehold apartment up to £305k and found one near me in Horley I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Horley for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I'm remortgaging my existing property to a buy to let mortgage with Nationwide Building Society and intend to use the remaining equity as a deposit on another house. The area we are looking at is Horley. Will your lawyers be able to act for both sets of mortgage companies and link together the conveyances?
Do use our comparison tool on this page to be sure that the conveyancers are approved by both mortgage companies. Having checked 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.
Are Horley conveyancing solicitors under an obligation to the Law Society to publish clear conveyancing costs?
Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Horley or across England and Wales.