My partner and I are intent on purchasing a maisonette in Emsworth. My property lawyer has never been on on the bank approved panel. Can I still retain my Emsworth conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
You must instruct a conveyancing practitioner to complete the formalities if you require a mortgage to purchase your home. The solicitor will carry out all the relevant legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage documentation is in order. One can instruct a Emsworth property lawyer of your choosing. However, where the conveyancing practitioner selected is not on the lender approved list additional charges will arise as separate legal representation will be need by the mortgage company. Lender panel applications can be submitted, so if your solicitor has not previously applied for membership they can do so.
All was ready to move into my new home in Emsworth next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These obligations are not unique to conveyancing in Emsworth.
The Emsworth conveyancing firm that I recently instructed on my house acquisition in Emsworth have suddenly shut down. I chose them because I needed a solicitor on the Lloyds conveyancing panel and my preferred Emsworth lawyer was not. I wrote them a cheque for two hundred pounds in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
I decided to have a survey done on a property in Emsworth ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some lenders will not grant a loan on such a home.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Emsworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Emsworth to see if the conveyancing costs will increase in light of this.
I was pointed in your direction by a couple of local property agents in Emsworth to select a conveyancer using your seach tool. Is there a financial upside for Estate Agents to market your site over and above a competitor’s?
We don’t make any commission for sending work in our direction. We thought it would be too underhand a fee because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to find a lender panel solicitor in Emsworth. Could you help me?
Unfortunately it’s not apparent why you need a Emsworth panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the mortgage company to find out which solicitors in Emsworth are on their panel . If you do find such a firm in Emsworth not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site