I am purchasing a maisonette in Ladywood. My Conveyancer has never been on on the mortgage company approved list. Can I still retain my Ladywood conveyancing solicitor even though they are excluded from the lender list of approved lawyers?
You have a number of choices open to you here
- Proceed with your chosen Ladywood conveyancing practitioner but your bank will need to appoint a lawyer from their approved panel. The net result is additional fees and potential delay.
- Get a new conveyancing practitioner to act in the purchase, making sure they are on the lender conveyancing panel.
- Convince your conveyancer to apply to join the mortgage company panel
We note that you have a search directory listing firms on the HSBC conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Ladywood?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ladywood.
We decided to purchase a purpose built flat in Ladywood with a residential mortgage from Platform Home Loans Ltd.We have a Ladywood conveyancing lawyer but Platform Home Loans Ltd informed us he's not listed on their "panel". we are left little option but to use a Platform Home Loans Ltd panel lawyer or retain our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage issued to you contains various provisions, a common one being that solicitors must be on the Platform Home Loans Ltd conveyancing panel. Until recently, most mortgage companies 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 lawyer to apply to be on the conveyancing panel for Platform Home Loans Ltd
My father-in-law has suggested that I instruct his lawyers for conveyancing in Ladywood. Should I use them?
No doubt the ideal way to choose a conveyancing practitioner is to seek recommendations from friends or relatives who have experience in using the conveyancer that you are considering.
I own a leasehold house in Ladywood. Conveyancing and Santander mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Ladywood who previously acted has long since retired. Any advice?
First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Ladywood conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a leasehold flat in Ladywood, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Ladywood with an extended lease are worth £196,000. The ground rent is £45 per annum. The lease runs out on 21st October 2083
With only 64 years remaining on your lease the likely cost is going to span between £15,200 and £17,600 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.