We are buying a 1 bedroom flat in Water Orton with a mortgage. We would like to retain our Water Orton solicitor, but the lender advise she’s not on their "panel". It seems we have no option but to instruct one of the mortgage company panel firms or retain our Water Orton conveyancing practitioner and pay for one of their panel ones to act for them. This seems very unfair; are we not able to demand that the bank use our Water Orton conveyancer ?
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 Water Orton conveyancing lawyer to apply to be on the conveyancing panel.
My husband and I are buying a newly converted apartment in Water Orton with a homeloan from Norwich and Peterborough Building Society.We would like to retain our Water Orton conveyancing practitioner but Norwich and Peterborough Building Society says he's not on their "panel". It seems we have no choice but to instruct a Norwich and Peterborough Building Society panel lawyer or keep our high street solicitor and pay for a Norwich and Peterborough Building Society panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you is subject to its various provisions, one of which will be that conveyancers must be on the Norwich and Peterborough Building Society conveyancing panel. in the past, most banks had large numbers of solicitors 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 solicitors to apply to be on the conveyancing panel for Norwich and Peterborough Building Society
This question may be naive but I am unexperienced as FTB of a garden flat in Water Orton. Do I receive the keys to the premises on the completion date from my conveyancer? If so, I will find a High Street conveyancing solicitor in Water Orton?
On the day of completion you will not be required to attend the conveyancers office in Water Orton. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you should be called to receive the keys from the property Agents and start moving into the property. Usually this occurs early afternoon.
We are getting the release of further funds on our home loan from Clydesdale as we want to conduct a loft conversion to our home in Water Orton. Are we obliged to select a bricks and mortar Water Orton solicitor on the Clydesdale conveyancing panel to deal with the paperwork?
Clydesdale do not ordinarily appoint firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale panel.
I recently had an offer agreed on an apartment in Water Orton. My mortgage broker pressured me to appoint their lawyer. I paid an on account payment of £200. A couple of days later, the conveyancing practitioner called me sheepishly admitting that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am looking for a flat up to £305k and found one close by in Water Orton I like with amenity areas and station nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Water Orton suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am using a search engine for the words on line conveyancing in Water Orton it reveals many property lawyersin the area. With so much choice what is the best way to find the suitable conveyancing solicitor for me?
The best way of choosing a suitable conveyancer is via personal testimonial, so enquire of colleagues and those you trust who have acquired a property in Water Orton or a local estate agent or financial adviser. Charges for conveyancing in Water Orton vary, so it's advisable to secure a minimum of four costs illustrations from varying types of solicitors. Make sure that you know what costs in the quote includes.