My husband and I are hoping to buy a newly converted apartment in Fowey with a residential mortgage from Clydesdale.We use our Fowey conveyancing practitioner but Clydesdale informed us he's not listed on their "panel". It seems we are left with little choice but to instruct a Clydesdale panel solicitor or keep our local solicitor and pay for a Clydesdale panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Clydesdale use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, one of which will be that conveyancers must be on the Clydesdale conveyancing panel. in the past, most banks 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Clydesdale
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Fowey bank branch on numerous occasions and was informed it wasn't an issue and they will lend. My Fowey conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
The property lawyer must follow the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my flat. 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, Barclays are being difficult. The Fowey solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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've 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 Fowey solicitor - who is on the Kent Reliance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance 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 conveyancing practitioner 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 Fowey postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Fowey.
Should commercial conveyancing searches reveal planned roadworks that could affect a commercial property in Fowey?
Its becoming the norm that commercial conveyancing solicitors in Fowey will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Fowey. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Fowey.
For each commercial conveyancing transaction in Fowey it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Fowey commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Fowey.
How does conveyancing in Fowey differ for new build properties?
Most buyers of new build or newly converted property in Fowey come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Fowey typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Fowey or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Fowey before retaining conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor has said that some banks tend not issue a mortgage on this type of home.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Fowey. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been recommended by a few estate agents in Fowey to find a conveyancer on your site. What’s the financial upside for Estate Agents to promote your site over alternative conveyancing organisations?
We refuse to make any commission for directing people our way. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.