My wife and I are purchasing a 1 bedroom apartment in Herne Bay with a mortgage. We have a Herne Bay lawyer, but the mortgage company advise he's not on their "panel". It appears that we have little choice but to appoint one of the lender panel conveyancing practices or keep our Herne Bay property lawyer as well as pay for one of their panel lawyers to act for 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 lender’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 Herne Bay conveyancing lawyer to apply to be on the conveyancing panel.
My husband and I are buying a newly constructed flat in Herne Bay and my solicitor is informing me that she is duty bound to the mortgage company to disclose incentives from the builder. The Estate Agents are hassling me to exchange contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am buying a house and need a conveyancing solicitor in Herne Bay who is on the Birmingham Midshires solicitor. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Birmingham Midshires in certain locations such as Herne Bay. We dont recommend any particular firm.
Have completed on a a detached house in Herne Bay , What is the estimated time for the Land Registry to record my title? My Herne Bay conveyancing solicitor works at snail pace, so I want to be certain the registration formalities are addressed.
There is nothing unique when it comes to conveyancing in Herne Bay registration formalities. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether it is in order and if the Land registry have to notify any 3rd persons or bodies. Currently roughly three quarters of submission are fully dealt with in less than three weeks but occasionally there can be longer hold-ups. Registration occurs once the new owner is living at the premises thus an expedited registration is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor can speak with the land registry and explain the circumstances.
Our solicitor in Herne Bay has uncovered a a problem with the lease for the apartment we are buying in Herne Bay. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.