I am selling my apartment in Brighstone and the EA has just telephoned to advise that the purchasers are switching conveyancer. The excuse is that the mortgage company will only deal with solicitors on their approved list. On what basis would a big named lender only work with certain lawyers rather the firm that they want to select to handle their conveyancing in Brighstone ?
Mortgage companies have always had panels of law firms they are content to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to oversee. No lender will say 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. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
AssumingI were to acquire a simple residential housein Brighstone mortgage fee and dispense with a survey and no local authority searches how much should I expect to to save on my conveyancing in Brighstone?
The only reduction in fees you would achieve is the Brighstone conveyancing searches. Your conveyancing practitioner still got to do everything else - money laundering, correspond with your vendors conveyancer, stamp duty return, register the title etc. You might save a bit for them not needing to register a charge but it won't be significant.
Can I use your services to recommend a Conveyancing solicitor in Brighstone even where I’m not purchasing or selling a house, for example if I wish to acquire a shop in Brighstone with a loan from Bank of Scotland?
The service is predominantly used to select residential conveyancing solicitors in Brighstone but we have recorded at the end of this page some Brighstone commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they can also act for Bank of Scotland
Is it the case that all Brighstone solicitors on the TSB conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the organisation would be governed by the CLC.
I am buying a property in Brighstone. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
Given that your lender is TSB your lawyer must follow the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to TSB where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties nationwide and is not isolated to Brighstone.
I am selling my apartment. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Aldermore are being difficult. The Brighstone solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore 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 am looking for a ground for flat up to £235,500 and identified one near me in Brighstone I like with amenity areas and transport links in the vicinity, however it only has 52 years on the lease. There is not much else in Brighstone in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the shortness of the lease will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
Are there any apps to help locate a Brighstone law firm on the TSB conveyancing panel? I have a car and am happy to travel upto 20kilometers to meet the conveyancer.
You can use the facility on this website. Please pick a lender and your location and you will see a number of Brighstone conveyancing lawyers locally. We have detailed some Brighstone conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the TSB approved list