I have just been advised by my financial adviser that my Bournemouth the law firm I have appointed is not on the bank Conveyancing panel. How can I be sure whether this is correct?
You need to call your Bournemouth lawyer directly. You lawyer should notify you what has happened. If they are not on the panel they may be able to suggest a Bournemouth conveyancing firm that is on the approved list of lawyers for your mortgage company.
The owners have very brash vendors who has suggested a lock out contract with a payment 6,000. Are such agreements sensible?
Lock out contracts are agreements binding a property owner and purchaser granting the buyer the sole right to purchase the property within a prescribed time frame. For all intents and purposes, a lock out is a document stating that you should be issued with a contract at a later date being the main conveyancing contract. It tends to be used for buyer confidence though in some cases, the seller may enjoy an upside from such agreements as well. There are various pros and cons to having an agreement but you should to check with your solicitor but beware that it may end up incurring more in conveyancing charges. For this these contracts are avoided in relation to conveyancing in Bournemouth.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather appoint a Bournemouth based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers should you take up the "fee-free" deal. Contact the mortgage company to explore if they offer you a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Bournemouth.
Is it the case that all Bournemouth conveyancing solicitors on the Leeds Building Society conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
I am selling my house. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Virgin Money are being a right pain. The Bournemouth solicitor who is on the Virgin Money conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Virgin Money are requiring a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money 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.
I have finally had an offer on a maisonette in Bournemouth agreed to, but there is a chain. The sellers have offered on a flat, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have selected a local conveyancing solicitor in Bournemouth. What do I do now? At what stage do I apply for the mortgage with Aldermore?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then survey, Bournemouth conveyancing search charges, etc). The first course of action is to ensure that your lawyer is on the Aldermore conveyancing panel. As to the subsequent phase this very much depends on the circumstances of your case, motivation for the property and on the state of the market. In a rising market the majority of buyers would apply for a home loan with Aldermore and arrange for the valuation and only if it comes back ok would they ask their lawyer to move forward with searches.
I have been told that property searches are a common reason for delay in Bournemouth house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Bournemouth.
Due to the encouragement of my in-laws I had a survey completed on a property in Bournemouth ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies will not give a mortgage on such a property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bournemouth. Conveyancing may be slightly more expensive based on your lender's requirements.