We are intending to acquire a 2 bedroom apartment in Stilton with a mortgage. We wish to retain our Stilton solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the bank panel solicitors or retain our Stilton conveyancer as well as pay for one of their panel lawyers to represent them. We feel that this is inequitable; are we not able to require that the mortgage company use our Stilton conveyancer ?
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 Stilton conveyancing lawyer to apply to be on the conveyancing panel.
Is there a reason why leasehold purchase conveyancing in Stilton is more expensive?
In summary, leasehold conveyancing in Stilton and Cambridgeshire usually warrants extra work compared to freehold transactions. This includes checking the lease terms, corresponding with the landlord about the service of required notices, obtaining current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would prefer to appoint a specialised conveyancing solicitor in Stilton?
You should check but the chances are that appoint one of their panel lawyers if you take up the "fee-free" incentive. Speak to the lender and determine if they make available a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Stilton.
Me and my brother purchased a terraced Edwardian house in Stilton. Conveyancing lawyer acted for me and Clydesdale. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the matching property. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stilton and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing solicitor who conducted the purchase.
Been searching for a property lawyer for leasehold sale conveyancing in Stilton. We are selling, simple no mortgage to redeem, no rush, no onward purchase. Got a quote from a conveyancer for nine hundred pounds including VAT which is a tad high given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Stilton?
As it’s a sale only, 475 + VAT should be about the lowest for a Stilton solicitor firm.