My wife and I are purchasing a 3 bedroom flat in Exeter with a mortgage. We like our Exeter solicitor, however the lender says she’s not on their "panel". It seems we have no option but to use one of the lender panel firms or continue with our Exeter conveyancing practitioner and pay for one of their panel firms to act for them. This feels very unfair; are we not able to demand that the bank use our Exeter conveyancing practitioner ?
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. Another option that might be available is for your Exeter conveyancing lawyer to apply to be on the conveyancing panel.
Can you explain why leasehold purchase conveyancing in Exeter costs more?
Exeter leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Is there a search tool that I can utilise to check that the solicitor handling my conveyancing in Exeter is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Skipton Building Society thus spending £187.00 plus VAT in further conveyancing charges.
Feel free to take advantage of the search tool on this web page. Please choose the mortgage company and type ‘Exeter’ or your preferred area and you will see a number of lawyer based in Exeter or nearest you.
I am 17 days into a freehold purchase having been referred to solicitors by the high street agent to carry out the conveyancing in Exeter. We are not happy. Could you you assist me in finding new lawyers?
They would need to be very poor to suggest replacing them. Has the mortgage offer been generated? In the event that it has you will need to make them aware of the new contact details and get the mortgage documents are issued to the new lawyers. Your conveyancer needs to be on the lenders panel to avoid added fees and complications. So that should be your first question of the new solicitors. Our search tool will assist you in finding a bank approved lawyer for your home move in Exeter
Can you provide any top tips for leasehold conveyancing in Exeter with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Exeter can be avoided if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled. If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Exeter leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Should you dont have the consents to hand do not communicate with the landlord without checking with your solicitor in the first instance. You may think that you are aware of the number of years remaining on your lease but you should verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
Exeter Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
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What prohibitions exist in the Exeter Lease? How many years are left on the lease? Generally speaking the cost for major works tend not to be included within maintenance charges, albeit that a few managing agents in Exeter obliged leasehold owners to pay into a reserve fund and this is used to offset against major works.
What is the difference between surveying and conveyancing in Exeter?
Conveyancing - in Exeter or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are buying and will help you discover the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the vendor to fix the defects before you complete your move.