I am one month into the sale of my home in Bridport and the EA has just e-mailed to warn that the purchasers are changing their property lawyer. The reason given is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with certain lawyers rather the firm that they want to select to handle their conveyancing in Bridport ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Bridport?
There are two types of lawyers who can do conveyancing in Bridport namely licenced conveyancers or solicitors. Both professionals provide the legal services that required to complete the disposal or purchase of property. Both are required to carry out Bridport conveyancing to the same standards and guidelines so you can be sure that your conveyancing will be properly carried out and that all requisite steps will be suitably taken.
I am purchasing a property in Bridport. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?
Given that you are obtaining a mortgage with Virgin Money your lawyer must follow the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and solicitors are required to report to Virgin Money where a lease does not comply with these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to Bridport.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bridport solicitor - who is on the Skipton conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Bridport postcode. As you are getting a mortgage with Skipton, you could contact them to see if they have a list of approved surveyors in Bridport.
I have been told that property searches are the primary cause of stalling in Bridport house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Bridport.
I am buying a new build flat in Bridport. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bridport
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I need to instruct a conveyancing solicitor for some conveyancing in Bridport. I have stumble across a web site which appears to be the perfect answer If there is a chance to get all the legals completed via web that would be preferable. Should I be concerned? What should out be looking out for?
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?
I have just placed an offer on an apartment in Bridport and the broker that we are using suggested his lawyer. He quoted £1000 including VAT and disbursements. Does this sound reasonable?
You should not rely on one quote. You should seek like-for-like quotes for your conveyancing in Bridport. Then choose one that you trust and just as important, is on the approved panel of the bank that you are sourcing your mortgage from.