My wife and I are purchasing a 3 bedroom flat in Mitcheldean with a mortgage. We have a Mitcheldean lawyer, but the lender says he's not on their "panel". It appears that we have no option but to use one of the mortgage company panel solicitors or keep our Mitcheldean property lawyer and pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
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. Another option that might be available is for your Mitcheldean conveyancing solicitor to apply to be on the conveyancing panel.
My partner and I are refinancing our penthouse in Mitcheldean with Santander. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Santander conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Santander. This is solely used to protect Santander if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Santander had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My Conveyancer in Mitcheldean has never been on on the HSBC Bank Approved Panel. Is it possible for me to retain my prefered solicitor notwithstanding that they are excluded from the HSBC Bank panel?
Your options are as follows:
- Carry on with your preferred Mitcheldean lawyers but HSBC Bank will need to instruct a conveyancer on their panel. This will result in additional total conveyancing charges as well as result in frustration.
- Get an alternative lawyer to to deal with the purchase, remembering to check they are HSBC Bank approved.
- Try to convince your HSBC Bank solicitor to seek to join the HSBC Bank panel
What will a local search reveal concerning the property I am purchasing in Mitcheldean?
Mitcheldean conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for example Xpress Legal The local search is essential in every Mitcheldean conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
My wife and I hope to purchase our 1st property in Mitcheldean. Conveyancing lawyer already appointed. The broker advised that a survey is not appropriate as the house is just 17 years old.
As the bare minimum you need a Home Buyer's Report. Given the property is more than 10 years old the property will not come with a warranty, so you don't want to take a risk. For a property that age with no signs of problems a Home Buyer's report may be enough. The report should highlight any obvious issues and suggest additional investigation where relevant. If there are any indications of problems get a comprehensive structural survey.