We are purchasing a 1 bedroom flat in Hurworth with a mortgage. We like our Hurworth solicitor, but the lender advise she’s not on their "panel". It appears that we have little choice but to appoint one of the bank panel conveyancing practices or continue with our Hurworth property lawyer and pay for one of their panel lawyers to represent them. We feel that this is unjust; are we not able to demand that the mortgage company use our Hurworth conveyancer ?
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. A further alternative is for your Hurworth conveyancing solicitor to apply to be on the conveyancing panel.
My brother and I have recently acquired a property in Hurworth. We have since encountered a number of issues with the property which we believe were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been ordered for conveyancing in Hurworth?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Hurworth. Conveyancing searches and due diligence undertaken as part of the buying process are designed to help avoid problems. As part of the process, a seller answers a form known as a SPIF. If the information is misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Hurworth.
We wanted to use a property lawyer in Hurworth for our home move. Our financial adviser has since notified us that our mortgage lenders Godiva Mortgages Ltd won't deal with them. Surely this is unfair competition?
Before the recession most banks had a different appetite for risk. Almost all Hurworth conveyancing firms would have been on most lender panels. The FSA in 2010 carried out a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms concerning their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum volume of transactions. Many Hurworth conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Hurworth is one of the numerous areas where the lawyers showing on our search results are are approved Godiva Mortgages Ltd.
I have been on the look out for a ground for flat up to £245,000 and found one close by in Hurworth I like with a park and railway links nearby, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Hurworth for this price, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Are all Hurworth law firms on every lender conveyancing panel?
You can use our search tool or you can go into your local lender branch in Hurworth. Chances are that they will know some good conveyancing solicitors in Hurworth