We are purchasing a 3 bedroom apartment in Broadstairs with a mortgage. We would like to retain our Broadstairs solicitor, however the bank advise he's not on their "panel". It appears that we have no option but to instruct one of the mortgage company panel firms or keep our Broadstairs lawyer and pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
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 Broadstairs conveyancing lawyer to apply to be on the conveyancing panel.
Why is leasehold purchase conveyancing in Broadstairs is more expensive?
The conveyancing costs for a leasehold premises in Broadstairs is inevitably more expensive than on a freehold transaction. This is due to the additional investigations required in dealing with the landlord and managing agents to obtain information concerning whether the rent and maintenance charges have been cleared and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
I am in the process of refinancing my property in Broadstairs, does my lawyer have to be on the TSB Solicitor panel?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a property in Broadstairs? or I am told that there is an ancient law that means some house owners living in a parish church boundary will be compelled to contribute towards repairs to the chancel in proximity to the church. Is this applicable for conveyancing in Broadstairs?
Unless a prior acquisition of the premises completed after 12 October 2013 you can take it that lawyers handling conveyancing in Broadstairs to continue to propose a a chancel search and or insurance against a claim.
I'm converting the mortgage on my existing house to a buy to let mortgage with Aldermore and I will use the ballance of the raised equity towards further house. The neighborhood we are talking about is Broadstairs. Will your lawyers be able to act for the two lenders and tie in the two deals?
Make use of our comparison tool on this page to check that the lawyers are on the relevant lender panels. Having checked that they are the solicitor should be able to connect the two conveyancing matters but you should talk with you lawyer and make clear your expectations and requirements.