Me and my fiance are intending to acquire a 2 bedroom flat in Barlaston and Tittensor with a mortgage. We have a Barlaston and Tittensor conveyancer, but the lender advise he's not on their "panel". We have to appoint one of the lender panel firms or keep our Barlaston and Tittensor conveyancing practitioner and pay for one of their panel ones to represent them. We feel that this is inequitable; are we not able to insist that the mortgage company use our Barlaston and Tittensor solicitor ?
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. A further alternative is for your Barlaston and Tittensor conveyancing solicitor to apply to be on the conveyancing panel.
IfI was to acquire a freehold propertyin Barlaston and Tittensor for cash and have no survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Barlaston and Tittensor?
The sole saving you would make on is the Barlaston and Tittensor conveyancing searches. The lawyer still be obliged to do everything else - money laundering, liaising with the sellers conveyancer, stamp duty return, register the property etc. You might save a bit for them not needing to register a charge however it won't be a lot.
Are all Barlaston and Tittensor Conveyancing Quality Solicitors on the UBS conveyancing list of approved solicitors?
A selection of lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
My wife and I are in the process of viewing flats in Barlaston and Tittensor and I am about to put in an offer. Should I already have a lawyer in place at this stage? I am planning to take a mortgage with Bank of Ireland.
It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are getting a mortgage with Bank of Ireland, make sure you remember to check that your lawyer is on the Bank of Ireland conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in November 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being a right pain. The Barlaston and Tittensor solicitor who is on the Leeds Building Society conveyancing panel is recommending indemnity insurance as a solution but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society 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.
A friend suggested that where I am purchasing in Barlaston and Tittensor I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Barlaston and Tittensor conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Barlaston and Tittensor around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Barlaston and Tittensor Education with maps and statistics, Local Amenities and other useful data about Barlaston and Tittensor.
How does conveyancing in Barlaston and Tittensor differ for newly converted properties?
Most buyers of new build property in Barlaston and Tittensor approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Barlaston and Tittensor usually purchase 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 property lawyers 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 Barlaston and Tittensor or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Barlaston and Tittensor before retaining lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies tend not give a loan on such a property.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you e-mail us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Barlaston and Tittensor. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Barlaston and Tittensor to see if the conveyancing will be more expensive.