My husband and I are purchasing a 2 bedroom flat in Marazion with a mortgage. We have a Marazion solicitor, however the lender advise she’s not on their "panel". It seems we have little option but to use one of the bank panel solicitors or keep our Marazion conveyancing practitioner and pay for one of their panel ones to act for them. We feel that this is inequitable; 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 Marazion conveyancing solicitor to apply to be on the conveyancing panel.
Please explain the implications if my lawyer’s firm is removed from the TSB Solicitor panel ahead of completing my conveyancing in Marazion?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I opted to have a survey completed on a house in Marazion in advance of retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some banks will refuse to give a loan on this type of home.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Marazion. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Marazion to see if the conveyancing will be more expensive.
Taking into account that I am about to spend £400,000 on a property in Marazion I would like to have a conversation with the conveyancer concerning thetransaction prior to giving the go ahead to the firm. Is this something that you can arrange?
This is something that we recommend - we would be delighted to talk to you we do not take any clients on without you liaising with the solicitor due to be carrying out your conveyancing in Marazion.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The solicitors that we put you in touch with believe that the figure you are provided with for residential conveyancing in Marazion should be the figure that you are charged.
We have just discovered that one of the partners of the solicitors undertaking the purchase conveyancing in Marazion is an uncle of the owners that we are buying from. Is this permitted?
As long as there is no conflict of interest this is allowable. If you are needing mortgage finance then the bank may have a say as many banks have specific instructions on this. For example for Halifax as of 3/1/2021, the requirements read as follows :