Me and my partner are buying a 2 bedroom apartment in West Derby with a mortgage. We have a West Derby lawyer, but the lender advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our West Derby property lawyer as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. 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 West Derby conveyancing solicitor to apply to be on the conveyancing panel.
I purchased a freehold residence in West Derby yet charged rent, why is this and what is this?
It is rare for properties in West Derby and has limited impact for conveyancing in West Derby but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Is it the case that all West Derby CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
A selection of lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I have decided to exercise my right to buy my property in West Derby off the council. I have a mortgage agreed with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
My offer was accepted on a house in West Derby on 16/5/2019, valuation was booked 4 days after, received a clean bill of health. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Nationwide and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nationwide conveyancing panel. Are Nationwide entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the input of my in-laws I had a survey completed on a house in West Derby prior to instructing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor has said that some lenders will not issue a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in West Derby. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in West Derby to see if the conveyancing will be more expensive.
Do I need to be suspicious by 3rd parties that I am dealing with are suggesting a nationwide conveyancing firm as opposed to a local West Derby conveyancing firm?
As is the case with lots of service providers, often recommendations from relatives can be extremely useful or valuable. But there are many players in a conveyancing matter; estate agents, financial adviser and mortgage companies may suggest solicitors to use. Sometimes these lawyers might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the recommendation. You are at liberty to appoint your preferred lawyer. However, bear in mind that the majority of banks specify a panel list of law firms you must use for the lender aspect of your conveyancing.