Me and my partner are purchasing a 3 bedroom flat in Moreton with a mortgage. We like our Moreton lawyer, but the lender says she’s not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Moreton conveyancing practitioner and pay for one of their panel ones to represent them. We regard this is unjust; is there anything we can do?
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. Another option that might be available is for your Moreton conveyancing lawyer to apply to be on the conveyancing panel.
My fiance and I intend to remortgage our flat in Moreton with Clydesdale. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this document specific to the Clydesdale conveyancing panel as he never had to sign this form when we bought 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Clydesdale. This is solely used to protect Clydesdale if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Clydesdale had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have been sourcing a conveyancing lawyer in Moreton for my purchase. Is there any facility to see a firm’s record with the legal regulator?
One may find published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training reasons.
What are your top tips when it comes to appointing a Moreton conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Moreton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Moreton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
How experienced is the firm with lease extension legislation? Can they put you in touch with clients in Moreton who can give a testimonial?
I bought a basement flat in Moreton, conveyancing formalities finalised August 2002. How much will my lease extension cost? Comparable properties in Moreton with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2083
With only 64 years left to run the likely cost is going to range between £14,300 and £16,400 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
Why is New Build conveyancing in Moreton more expensive?
Acquiring a new build premises is completely distinct from the standard house buying conveyancing in Moreton. Firstly sellers normally need contracts to exchange within a tight deadline, the result being a lot of pressure on your lawyer to ensure all is in order. In addition new build premises often involve examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage company obligations are also more detailed. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.