We are buying a 2 bedroom apartment in Mapperley with a mortgage. We like our Mapperley conveyancer, however the mortgage company says she’s not on their "panel". It appears that we have no choice but to appoint one of the mortgage company panel solicitors or continue with our Mapperley and pay for one of their panel lawyers to act for them. This seems very unfair; can we not insist that the lender use our Mapperley ?
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 Mapperley conveyancing lawyer to apply to be on the conveyancing panel.
My fiance and I are refinancing our apartment in Mapperley with . We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to . This is solely used to protect if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
3 months have elapsed following my purchase conveyancing in Mapperley took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 property 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.
How do I identify a Mapperley solicitor on the conveyancing panel? I have wheels and am prepared to travel upto 20kilometers to meet the lawyer.
Feel free to make use of the tool on this website. Please pick a bank and your location and you will see a number of Mapperley conveyancing lawyers based on proximity. We have detailed some Mapperley conveyancing firms towards the end of this page and you can call them to see if they are on the approved list
I acquired a leasehold flat in Mapperley, conveyancing was carried out in 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Mapperley with a long lease are worth £165,000. The ground rent is £45 yearly. The lease finishes on 21st October 50
You have 50 years left to run we estimate the price of your lease extension to be between £36,100 and £41,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.