My wife and I are buying a 2 bedroom flat in Beaminster with a mortgage. We wish to retain our Beaminster conveyancer, however the lender says she’s not on their "panel". It seems we have no choice but to use one of the bank panel solicitors or keep our Beaminster solicitor as well as pay for one of their panel firms to represent them. We regard this is inequitable; can we not require that the bank use our Beaminster conveyancer ?
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 Beaminster conveyancing solicitor to apply to be on the conveyancing panel.
Can the conveyancing solicitors that you recommend execute auction conveyancing in Beaminster?
There are a number of niche lawyers we can put you in touch with those specialising in auction conveyancing. Beaminster is just one of our locations where our lawyers are based.
It is 10 years ago since I bought my house in Beaminster. Conveyancing lawyers have recently been instructed on the sale but I can't locate my title deeds. Will this jeopardise the sale?
Don’t worry too much. First there is a possibility that the deeds will be kept by your lender or they may stored with the conveyancers who oversaw your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in Beaminster relates to registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
How does conveyancing in Beaminster differ for newly converted properties?
Most buyers of new build premises in Beaminster approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because house builders in Beaminster tend to 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 conveyancers 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 Beaminster or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Beaminster I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Beaminster suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I was pointed in your direction by a couple of local property agents in Beaminster to get a quote from a solicitor using your seach tool. Is there a financial incentive for Estate Agents to offer your site ahead of a competitor’s?
We refuse to offer any financial incentive for directing people in our direction. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.