We wish to acquire a newly converted apartment in Colne with a residential mortgage from lend.We like our Colne conveyancing solicitor but lend says her practice is not listed on their "panel". we are left little option but to use a lend panel firm or retain our preferred solicitor and pay for one of their panel ones to act for them.We feel as though this is unjust; Can we not simply insist that use our lawyer?
Unfortunately,no. The loan issued to you contains terms and conditions, one of which will be that lawyers must be on the approved list.in the past, most banks 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 lawyer to apply to be on the conveyancing panel for
I decided to have a survey done on a house in Colne in advance of retaining lawyers. I have been told that there is a flying freehold element to the house. My surveyor has said that some lenders tend refuse to grant a mortgage on such a property.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Colne. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Colne to see if the conveyancing costs will increase in light of this.
I am selling my property. My past conveyancers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Colne if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Colne. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.