My wife and I are buying a 2 bedroom flat in Southport with a mortgage. We like our Southport solicitor, however the mortgage company says she’s not on their "panel". It seems we have little option but to use one of the bank panel solicitors or continue with our Southport solicitor and pay for one of their panel ones to act for them. We regard this is inequitable; can we not insist that the mortgage company use our Southport solicitor ?
No, not really. 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 Southport conveyancing lawyer to apply to be on the conveyancing panel.
My Conveyancer in Southport is not on the National Westminster Bank Approved Panel. Can I still use my family solicitor even though they are not on the National Westminster Bank list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Southport lawyers but National Westminster Bank will need to use a lawyer on their list of acceptable firms. This will result in additional overall legal charges and cause delays.
- Get an alternative lawyer to act in the purchase, remembering to check they are on the National Westminster Bank panel
I am due to move property in October. Does my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you put forward a removal company in Southport. Conveyancing solicitor was organised prior to coming across your website.
On the afternoon of completion you can collect the house keys from your selling agent but this can only take place after the previous owners conveyancers advise the agent that they have the completion monies and the keys can be collected. Subsequently you should advise the removal company that they can start moving you in. We do not recommend a particular removal company but can help you locate a conveyancing in Southport or a firm with expertise in conveyancing in Southport.
When it comes to lenders such as Principality, do Southport lawyers face a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
is it true that all Southport solicitor firms on the Virgin Money conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Virgin Money conveyancing panel they would need to be governed by the SRA. Some banks do list licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when purchasing a property in Southport?
Unless a previous purchase of the property took place post 12 October 2013 you could take it that solicitors carrying out conveyancing in Southport to remain recommending a chancel search and or chancel repair liability policy.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Southport I like with open areas and station nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Southport suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.