Me and my partner are purchasing a 3 bedroom apartment in Chilwell with a mortgage. We have a Chilwell solicitor, but the mortgage company advise she’s not on their "panel". It seems we have little choice but to select one of the mortgage company panel conveyancing practices or continue with our Chilwell lawyer as well as pay for one of their panel ones to act for them. This feels very unfair; can we not demand that the mortgage company use our Chilwell lawyer ?
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 Chilwell conveyancing lawyer to apply to be on the conveyancing panel.
My partner and I are acquiring a newly built apartment in Chilwell and my lawyer is informing me that she is duty bound to the bank to reveal incentives from the seller. The Estate Agents are hassling me to sign contracts and my preference is not to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My colleague advised me that if I am buying in Chilwell I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Chilwell conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Chilwell around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information about Chilwell.
Due to the advice of my in-laws I had a survey completed on a house in Chilwell before appointing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies will refuse to issue a mortgage on such a property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Chilwell. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chilwell to see if the conveyancing costs will increase in light of this.
In what way does the Landlord & Tenant Act 1954 impact my business offices in Chilwell and how can you help?
The particular law that you refer to provides a safeguard to commercial lessees, giving them the a statutory right to apply to court for a renewal lease and continue in occupation when the lease comes to an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Chilwell