My wife and I are purchasing a 3 bedroom apartment in Rusholme with a mortgage. We wish to retain our Rusholme lawyer, however the bank says she’s not on their "panel". We have to appoint one of the bank panel solicitors or retain our Rusholme and pay for one of their panel ones to represent them. This feels very unfair; are we not able to require that the lender use our Rusholme ?
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 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 Rusholme conveyancing lawyer to apply to be on the conveyancing panel.
I am soon to exchange buying a house in Rusholme but as a consequence of damage from the recent storms I have managed to agree recompense from the owner of £3k by way of a reduction in the price. I had intended this to be addressed as part of amending the contract however will not permit this. Why were they involved?
Any being on the conveyancing panel is required to disclose to of any variations to the sale price. If you were to refuse your to report the price change to then they would have to discontinue acting for you. In addition, and you would have to appoint a new for your conveyancing in Rusholme.
My wife and I have organised a further advance on our mortgage from as we wish to conduct alterations to our house in Rusholme. Are we obliged to appoint a bricks and mortar Rusholme solicitor on the conveyancing panel to handle the legals?
would not normally appoint a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the list.
I recently had an offer agreed on a house in Rusholme. My financial adviser recommended their conveyancers. I paid an on account payment of £200. A couple of days later, the called me embarrassingly acknowledging that they were not on the conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my house. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, are being difficult. The Rusholme solicitor who is on the conveyancing panel is recommending indemnity insurance as a solution but are insisting on a building regulation certificate. Why do have a conveyancing panel if they don't accept advice from them?
It is probably the case that have referred the matter to their valuer. The reason why may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I opted to have a survey carried out on a house in Rusholme in advance of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some banks will not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. If you e-mail us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Rusholme. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rusholme to see if the conveyancing costs will increase in light of this.
I'm remortgaging my current property to a BTL mortgage with and intend to use the remaining equity as a down payment on further property. The neighborhood we are talking about is Rusholme. Will your conveyancers be able to act for both sets of lenders and tie in the transactions?
Make use of our comparison tool on this site to be sure that the lawyers are on the relevant lender panels. Assuming that they are your solicitor should be able to tie up the two deals but you should talk with you lawyer and make clear your desired outcome and needs.