Me and my partner are buying a 1 bedroom flat in Brewood with a mortgage. We would like to retain our Brewood lawyer, however the bank advise he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Brewood property lawyer and pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you 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 Brewood conveyancing solicitor to apply to be on the conveyancing panel.
Due to move into my new home in Brewood next Friday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not limited to conveyancing in Brewood.
What happens if my lawyer’s firm is expelled from the Barclays Conveyancing panel ahead of completing my conveyancing in Brewood?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I opted to have a survey done on a house in Brewood ahead of retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some banks tend not issue a loan on such a property.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Brewood. Conveyancing may be slightly more expensive based on your lender's requirements.
I am selling my home. My previous lawyers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Brewood if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Brewood. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.