My husband and I are purchasing a 1 bedroom flat in Primrose Hill with a mortgage. We wish to retain our Primrose Hill solicitor, but the bank says he's not on their "panel". It seems we have little option but to appoint one of the lender panel conveyancing practices or retain our Primrose Hill solicitor as well as pay for one of their panel ones to act for 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 Primrose Hill conveyancing solicitor to apply to be on the conveyancing panel.
Me and my wife are buying our first home. The property lawyer has messagedto enquire if we want to purchase additional conveyancing searches. We are really unsure what's appropriate for conveyancing in Primrose Hill
The quantity and type of Primrose Hill conveyancing searches depends primarily on the property, the location, the likelihood of any of these risks, your knowledge of the locality and risks, your general attitude to risk. What is important is that you properly appreciate what information each search could supply. Then you can decide if you consider that you need that search. Should you be uncertain, ask your solicitor to provide guidance.
My aunt passed away last year and as sole heir and executor I was left the property in Primrose Hill. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then RBS will require that you use a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
I had a mortgage agreed in principle with Principality. Primrose Hill conveyancing solicitors are appointed. How long does it take for Principality to send the offer to the solicitor?
Some lenders take longer than others. Have Principality conducted the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We were going to get a DIP from HSBC this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do HSBC recommend any Primrose Hill solicitors on the HSBC conveyancing panel, or is it better to go independently?
You will need to appoint Primrose Hill solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
I was told three weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Primrose Hill is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
3 months have elapsed since my purchase conveyancing in Primrose Hill concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.