Me and my fiance are purchasing a 2 bedroom apartment in Shildon with a mortgage. We like our Shildon solicitor, however the bank says he's not on their "panel". We have to appoint one of the lender panel solicitors or retain our Shildon property lawyer as well as pay for one of their panel ones to represent 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. A further alternative is for your Shildon conveyancing solicitor to apply to be on the conveyancing panel.
My conveyancer has identified a defect with the lease for the property we are purchasing in Shildon. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that he must check that the bank is willing to move forward with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
We see that you have a post code search directory listing firms on the HSBC conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Shildon?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Shildon.
I bought my house on 1 January and my personal details is not yet registered. Need I be worried? My conveyancing solicitor in Shildon said it would be recorded inside ten days. Are titles in Shildon uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Shildon registration formalities. Rather than based on location, timeframes can adjust subject to the party submitting the application, whether it is in order and whether the Land registry must send notices to any third persons or bodies. At present in the region of three quarters of submission are fully addressed in less than three weeks but some can be subject to extensive delays. Historically registration takes place once the buyer is living at the premises thus 'speed' is not usually top priority yet where there is a degree of urgency associated with the registration then you or your solicitor could speak with the land registry and explain the circumstances.
I need to retain a conveyancing solicitor for remortgage conveyancing in Shildon. I've discover a site which seems to have the ideal answer If there is a chance to get all formalities completed via web that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?