We are buying a 3 bedroom apartment in Shinfield with a mortgage. We like our Shinfield solicitor, but the bank says he's not on their "panel". It seems we have little option but to use one of the bank panel conveyancing practices or retain our Shinfield property lawyer as well as pay for one of their panel firms to represent them. This feels very unfair; can we not demand that the mortgage company use our Shinfield conveyancer ?
No, not really. Your mortgage offer 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 Shinfield conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are about to exchange buying a property in Shinfield but as a consequence of damage from the recent storms I have was able negotiate compensation from the current proprietors in the sum of £3k taking the form of a deduction in the price. I had intended this to be addressed as part of the conveyancing process however Nationwide are not allowing this. Why were they involved?
Any property lawyer that is on a Nationwide conveyancing panel is required to advise Nationwide of any variations to the sale price. If you prohibit your solicitor to notify the price change to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new conveyancer for your conveyancing in Shinfield.
Are there restrictive covenants that are commonly identified during conveyancing in Shinfield?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Shinfield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Shinfield differ for newly converted properties?
Most buyers of new build residence in Shinfield approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Shinfield tend to buy the real estate, 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 conveyancers 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 used to new build conveyancing in Shinfield or who has acted in the same development.
Should I go with a Shinfield conveyancing lawyer based in the vicinity that I am hoping to buy? An old friend can deal with the legal formalities however his firm is located 200miles drive away.
The benefit of a local Shinfield conveyancing firm is that you can drop in to execute paperwork, present your identification documents and apply pressure on them if necessary. Having local Shinfield know how is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were content that must trump using an unfamiliar Shinfield conveyancing lawyer solely due to them being local.