Me and my partner are purchasing a 1 bedroom flat in Maxton with a mortgage. We wish to retain our Maxton conveyancer, however the mortgage company says she’s not on their "panel". It seems we have little choice but to use one of the mortgage company panel conveyancing practices or keep our Maxton solicitor as well as pay for one of their panel lawyers to act for them. We regard 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 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 Maxton conveyancing lawyer to apply to be on the conveyancing panel.
My Conveyancer in Maxton is not on the Godiva Mortgages Ltd Conveyancing Panel. Can I still retain my family solicitor notwithstanding that they are not on the Godiva Mortgages Ltd approved list?
The limited options open to you here include:
- Carry on with your preferred Maxton solicitors but Godiva Mortgages Ltd will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing charges and result in delays.
- Get a new practitioner to to deal with the conveyancing, remembering to check they are Convince your solicitor to do everything within their powers to join the Godiva Mortgages Ltd conveyancing panel
I purchased a 4 bedroom Victorian house in Maxton. Conveyancing solicitor represented me and Santander. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Maxton and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Maxton differ for newly converted properties?
Most buyers of new build or newly converted property in Maxton contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because new home sellers in Maxton usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Maxton or who has acted in the same development.
I opted to have a survey completed on a house in Maxton before instructing solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some banks tend refuse to issue a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Maxton. Conveyancing may be slightly more expensive based on your lender's requirements.