Me and my partner are intending to acquire a 2 bedroom apartment in South Brent with a mortgage. We have a South Brent lawyer, however the mortgage company says he's not on their "panel". It appears that we have no option but to use one of the lender panel conveyancing practices or continue with our South Brent lawyer as well as pay for one of their panel lawyers to represent them. This seems very unfair; 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 South Brent conveyancing solicitor to apply to be on the conveyancing panel.
we are a couple who are hoping to buy a 2 bedroom apartment in South Brent with a loan from Bank of Scotland.We use our South Brent conveyancing practitioner but Bank of Scotland says she’s not listed on their approved list of firms. We have to appoint a Bank of Scotland panel firm or retain our local solicitor and fork out for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
No, not really. The home loan issued to you contains terms and conditions, one of which will be that lawyers needs to be on the Bank of Scotland approved list. in the past, 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 solicitors to apply to be on the conveyancing panel for Bank of Scotland
Just acquired a semi-detached house in South Brent , how long should it take for the Land Registry to record the transfer to my name? My South Brent conveyancing solicitor works at snail pace, so I want to be certain that my ownership is registered.
As far as conveyancing in South Brent is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust according to the party submitting the application, whether there are errors and whether the Land registry must send notices to any other persons or bodies. At present in the region of three quarters of submission are fully addressed within two weeks but some can be subject to longer delays. Registration takes place after the buyer is living at the premises thus 'speed' is not always an essential issue but where it is urgent that the the registration takes place urgently then you or your lawyers must speak with the land registry and explain the circumstances.
About to purchase a new build flat in South Brent. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in South Brent
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Do I need to be concerned that brokers that I am dealing with are recommending a web based conveyancing firm rather than a local South Brent conveyancing firm?
As is the case with many professional services, often recommendations from connections can be extremely useful or valuable. But there are numerous parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend lawyers to retain. Sometimes the conveyancers might be known to one of the organisations as being good in their field, but sometimes there exists a financial incentive behind the endorsement. You are free to choose your preferred conveyancer. Don't forget that most lenders have an approved list of lawyers you are obliged to use for the mortgage aspect of your house move.