Me and my partner are intending to acquire a 3 bedroom apartment in Leominster with a mortgage. We would like to retain our Leominster solicitor, however the mortgage company advise she’s not on their "panel". It seems we have little option but to appoint one of the lender panel solicitors or continue with our Leominster lawyer and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
No, not really. 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 Leominster conveyancing lawyer to apply to be on the conveyancing panel.
We are planning to acquire a house and need a conveyancing solicitor in Leominster who is on the Leeds Building Society approved panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in Leominster.
Do the Building Society Association intend to launch a online directory to list firms on the Melton Mowbray Building Society conveyancing panel for example in Leominster?
We have not been informed any intention on the part of the BSA to develop such a register.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Leominster is the location of the property. What do you suggest?
Flying freeholds in Leominster are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Leominster you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leominster may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
We are midway through buying a property in Leominster. Conveyancing solicitor has called to say the property is "Leasehold". Should this impact the marketability of the property?
Leominster conveyancing does not usually involve leasehold houses. The main consideration here is the unexpired lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's essentially freehold, so it’s unlikely to impact the value too much.
At the other end of the spectrum, if it's, say, 50 years it is bound to have a significant impact on the saleability, and probably wouldn't be mortgageable. The length of lease and ground rent will be stated in the lease provided to your conveyancer.