I plan on buying a ground floor flat in Aylesford. My lawyer is not on the mortgage company approved panel. Am I still permitted to retain my Aylesford conveyancing solicitor notwithstanding that they are excluded from the bank panel?
Various options include
- Complete the deal with your existing Aylesford property lawyer but your bank will need to instruct a conveyancing practitioner from their approved list. This will result in additional cost and likely frustration.
- Appoint a new solicitor to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your conveyancer to seek to join the mortgage company panel
My conveyancer has uncovered a defect with the lease for the apartment we are buying in Aylesford. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner has advised that he must be satisfied that the bank is willing to move forward with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
Do banks and building societies provide you with an approved list of Aylesford conveyancing solicitors? How do you know who is on the Santander conveyancing panel?
Aylesford conveyancing firms themselves provide us confirmation that they are on the Santander conveyancing panel as opposed to being supplied with a list from Santander directly.
How does conveyancing in Aylesford differ for new build properties?
Most buyers of new build premises in Aylesford come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because developers in Aylesford usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Aylesford or who has acted in the same development.
I was advised by a few property agents in Aylesford to select a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to market your site rather than a competitor’s?
We refuse to offer any commission for sending work to this site. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I need to instruct a conveyancing solicitor for purchase conveyancing in Aylesford. I've stumble upon a site which appears to be the perfect answer If there is a chance to get all formalities completed via email that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?