Me and my fiance are planning to buy a 2 bedroom flat in Muxton with a mortgage. We like our Muxton lawyer, but the bank says she’s not on their "panel". We have to appoint one of the bank panel firms or continue with our Muxton lawyer as well as pay for one of their panel firms to represent them. This feels very unfair; are we not able to require that the mortgage company use our Muxton property lawyer ?
Unfortunately,no. 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. A further alternative is for your Muxton conveyancing lawyer to apply to be on the conveyancing panel.
3 months have gone by since my purchase conveyancing in Muxton completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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 does conveyancing in Muxton differ for new build properties?
Most buyers of new build premises in Muxton come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Muxton usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Muxton or who has acted in the same development.
Am I right to be concerned about 3rd parties that I am dealing with are recommending a nationwide conveyancing firm rather than a local Muxton conveyancing company?
As with lots of service providers, often input from connections can be very helpful. Nevertheless there are many players in a conveyancing deal; estate agents, financial adviser and mortgage companies may put forward solicitors to select. Sometimes the conveyancers might be known to one of the organisations as being good in their field, but occasionally there is an underlying commercial relationship behind the recommendation. You are at liberty to choose your own lawyer. Don't forget that most lenders specify a panel list of conveyancers you are obliged to use for the lender related work in your transaction.
I need to appoint a conveyancing solicitor for some conveyancing in Muxton. I've chance upon a web site which appears to be the ideal offering If it is possible to get all the legals completed via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?