Me and my fiance are purchasing a 2 bedroom apartment in Yelverton with a mortgage. We have a Yelverton conveyancer, but the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Yelverton property lawyer and pay for one of their panel firms to act for them. We consider that this is inequitable; can we not insist that the lender use our Yelverton conveyancing practitioner ?
Unfortunately,no. 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. Another option that might be available is for your Yelverton conveyancing solicitor to apply to be on the conveyancing panel.
We're in Yelverton, First timers purchasing with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Is it the case that all Yelverton solicitors on the UBS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the UBS conveyancing panel they would need to be governed by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such practice would be governed by the CLC.
Last month we had a mortgage agreed in principle with TSB. Yelverton conveyancing lawyers are appointed. What is the average time that one could expect to receive a mortgage offer from TSB?
There is no definitive answer here. Have TSB conducted the survey? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I recently had an offer agreed on a house in Yelverton. My mortgage broker recommended their conveyancers. I paid an on account payment of £200. A couple of days later, the conveyancing practitioner called me to say that they were not on the Bank of Ireland 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 Bank of Ireland 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.
We are buying a property and the solicitor has raised the issue of Chancel Repair to which the house could be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly necessary for conveyancing in Yelverton
Unless a prior purchase of the property took place post 12 October 2013 you may expect conveyancing practitioners delivering conveyancing in Yelverton to remain recommending a chancel search and or chancel repair liability insurance.
Do I need to be suspicious about estate agents that I am dealing with are recommending an online conveyancing firm as opposed to a High Street Yelverton conveyancing practice?
As is the case with many professional services, often referrals from connections can be extremely useful or valuable. Yet there are many players in a conveyancing transaction; estate agents, financial adviser and banks may suggest conveyancers to choose. Sometimes these lawyers might be known to one of the organisations as being good in their field, but sometimes there might be a financial incentive behind the endorsement. You have the discretion to choose your own lawyer. However, bear in mind that the majority of mortgage providers specify a panel list of law firms you are obliged to use for the mortgage aspect of your conveyancing.
I am using a search engine for the term cheap conveyancing in Yelverton it brings up numerous solicitorsin the area. How do I determine which is the suitable conveyancer for the sale of my house?
The best way of finding the right conveyancer is via trusted referral, so ask colleagues and relatives who have purchased a property in Yelverton or the reputable estate agent or mortgage broker. Fees for conveyancing in Yelverton differ, so it's a good idea to secure at least four costs illustrations from different property lawyers. Be sure to obtain confirmation what costs in the quote includes.