We are purchasing a 3 bedroom apartment in Mountain Ash with a mortgage. We have a Mountain Ash solicitor, but the lender advise he's not on their "panel". We have to appoint one of the bank panel solicitors or keep our Mountain Ash conveyancer and pay for one of their panel lawyers to represent them. We consider that this is inequitable; can we not require that the mortgage company use our Mountain Ash conveyancing practitioner ?
No, not really. Your mortgage offer 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. Another option that might be available is for your Mountain Ash conveyancing solicitor to apply to be on the conveyancing panel.
Is there a reason why leasehold purchase conveyancing in Mountain Ash is more expensive?
Mountain Ash leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
We previously chose solicitors with offices in Mountain Ash on the Bank of Ireland solicitor approved list. They have just invoiced me a separate amount for handling the Bank of Ireland mortgage. Is this an additional conveyancing fee specified by Bank of Ireland?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer is entitled to charge a fee for this. This charge is not dictated by Bank of Ireland but by your Mountain Ash conveyancer. Numerous firms on the Bank of Ireland panel will levy an ‘acting for lender’ fee and others do not.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Mountain Ash lawyer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I have a mortgage with Skipton for my property in Mountain Ash. Conveyancing was finalised months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Skipton must be informed of your intention prior to letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel solicitor.
My father has suggested that I appoint his conveyancing solicitors in Mountain Ash. Should I choose my own property lawyer?
Much as we are happy to recommend a Mountain Ash conveyancing lawyer the ideal way to select a conveyancing practitioner is to seek recommendations from friends or relatives who have actually experience in using the solicitor you're considering.
My fiance and I are buying a four bedroom housein Mountain Ash with a loan from a lender. We have selected a solicitor in Mountain Ash however our bank says she’s not on their "panel". Apparently we need to choose one of the our bank panel firms or stay with our Mountain Ash solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our mortgage company use our Mountain Ash lawyer?
Unfortunately,no. The lender home loan offered to you is subject to conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. in the past, most banks had large numbers of law firms on their panels, including most conveyancing solicitors in Mountain Ash : a mortgagee 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 your mortgage company.