My husband and I are hoping to buy a purpose built apartment in St Mawes with a residential mortgage from Nationwide Building Society.We would like to retain our St Mawes conveyancing solicitor but Nationwide Building Society says her practice is not listed on their approved list of firms. we are left little option but to use a Nationwide Building Society panel firm or retain our preferred solicitor and fork out for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The loan offered to you is subject to its terms and conditions, a common one being that solicitors needs to be on the Nationwide Building Society 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 Nationwide Building Society
It has been 2 months following my purchase conveyancing in St Mawes concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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 residence 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.
I decided to have a survey carried out on a property in St Mawes ahead of instructing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies tend not give a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in St Mawes. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Mawes to see if the conveyancing costs will increase in light of this.
We're first time buyers - agreed a price, yet the property agent told us that the owners will only go ahead if we instruct the agent's preferred conveyancers as they are insisting on an ‘expedited deal’. We would rather use a high street solicitor accustomed to conveyancing in St Mawes
It is highly unlikely the vendors are behind this. Should the owner desire ‘a quick sale', alienating a motivated buyer is likely to cause more damage than good. Try to communicate with the sellers directly and explain that (a)you are serious buyers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you will continue to instruct your own,trusted St Mawes conveyancing solicitors - not the ones that will provide their estate agent a introducer fee or meet his conveyancing targets set by HQ.
My father-in-law mentioned that when selecting a conveyancing firm they must be approved by your bank. This is my first home move but I have an AIP via Santander and I already have a local conveyancing solicitor in St Mawes at the ready. Will Birmingham Midhshires insist on an approved solicitor to be selected? Does a directory of panel solicitors even exist for my conveyancing in St Mawes?
You should choose a solicitor that is on the Birmingham Midhshires panel. Just call your preferred St Mawes conveyancing lawyer and ask if they are on the Birmingham Midhshires panel. If they are not on the panel you have a number of choices open to you here:
- Proceed with your existing St Mawes conveyancer but Birmingham Midhshires will need to retain a solicitor on their conveyancing panel. This will result in additional fees and potential interruption.
- Appoint a fresh property lawyer to act in the purchase, not forgetting to check that they are on the Birmingham Midhshires conveyancing panel.
- Appeal to your lawyer to apply to join the mortgage company panel.