Me and my partner are purchasing a 3 bedroom apartment in Turvey with a mortgage. We wish to retain our Turvey lawyer, but the mortgage company advise she’s not on their "panel". It appears that we have little option but to use one of the bank panel solicitors or continue with our Turvey lawyer and pay for one of their panel ones to represent them. We consider that this is inequitable; can we not require that the bank use our Turvey conveyancing practitioner ?
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. A further alternative is for your Turvey conveyancing lawyer to apply to be on the conveyancing panel.
As someone unfamiliar with conveyancing in Turvey what is the number one tip you can impart for the ownership transfer in Turvey
Not many law firms shout this from the rooftops but conveyancing in Turvey or throughout England and Wales is an adversarial process. Put another way, when it comes to conveyancing there exists plenty of room for confrontation between you and others involved in the home moving process. For instance, the vendor, property agent and sometimes your bank. Selecting a solicitor for your conveyancing in Turvey an important selection as your conveyancer is your adviser, and is the ONE person in the transaction whose interest is to protect your legal interests and to keep you safe.
Sometimes a third party with a vested interest will attempt to convince you that you should follow their advice. For example, the estate agent may claim to be helping by claiming that your solicitor is slow. Or your mortgage broker may advise you to do take action that is against your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
is it true that all Turvey conveyancing solicitors on the Principality conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Principality conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel and in such a situation the practice would be overseen by the Council of Licensed Conveyancers.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Turvey conveyancer on the Nottingham panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
Santander have agreed my mortgage in principle, my offer on a property in Turvey has been accepted, what are the next steps?
The property agent will wish to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s approved list). Call up Santander or your broker and finish off any outstanding documentation. Santander will sellect a valuer who will get in touch with the estate agent or owners to book a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Santander will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Turvey.
Have purchased a a detached house in Turvey , how long should it take for the Land Registry to record my title? My Turvey conveyancing solicitor has been painfully slow, so I want to be sure the registration formalities are dealt with.
There is nothing unique about conveyancing in Turvey registration formalities. As opposed to being determined by geographic area, timescales can vary depending on who lodges the application, whether there are errors and if the Land registry must send notices to any interested persons or bodies. As of today in the region of three quarters of submission are completed within two weeks but some can be subject to protracted delays. Historically registration takes place after the new owner has moved in to the premises thus post completion formalities is not usually an essential issue yet if there is a degree of urgency associated with the registration then you or your conveyancer could speak with the land registry and explain the circumstances.
We are in the throes of a leasehold sale of a flat in Turvey. Conveyancing solicitors are doing their job but we are being charged a fortune from the managing agents. To date we have forked out £275 for a leasehold management pack and then a further £200 plus VAT for responses to queries raised by the purchaser's solicitor.
You will not have any say over the extent of the bill for this information but the average costs for the information for Turvey leasehold premises is £380. For Turvey conveyancing transactions it is usual for the vendor to pay for these charges. The freeholder or their agents are under no legal obligation to address these questions although many will agree to do so - albeit often at high prices out of proportion to the work involved. Regretfully there is no law that mandates set fees for administrative tasks. Neither is there any prescriptive time limit by which they are duty bound to provide the information.