Me and my partner are buying a 3 bedroom flat in Leconfield with a mortgage. We have a Leconfield conveyancer, however the mortgage company advise he's not on their "panel". It appears that we have no option but to instruct one of the bank panel conveyancing practices or retain our Leconfield lawyer as well as pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you 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 Leconfield conveyancing lawyer to apply to be on the conveyancing panel.
My husband and I are approaching an exchange on a property in Leconfield and my mum and dad have sent the ten percent deposit to my solicitor. I am now informed that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
Your conveyancing practitioner is duty bound to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I am considering refinancing my flat in Leconfield, does my lawyer need to be on the Aldermore Solicitor panel?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Two weeks ago we had a mortgage agreed in principle with Clydesdale. Leconfield conveyancing lawyers were instructed. How long does it take for Clydesdale to forward the offer to the solicitor?
Some lenders take longer than others. Have Clydesdale conducted the survey? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My wife and I are at the point of viewing apartments in Leconfield and I am about to put in an offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with Kent Reliance.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are obtaining a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.
I currently have a mortgage with Bank of Ireland for my property in Leconfield. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval before renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel lawyer.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when buying a house in Leconfield?
Unless a prior acquisition of the house completed post 12 October 2013 you could assume that solicitors handling conveyancing in Leconfield to remain recommending a chancel search and or chancel repair liability policy.