My husband and I are planning to acquire a 2 bedroom flat in Horfield with a mortgage. We have a Horfield solicitor, but the lender advise he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Horfield conveyancing practitioner as well as pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Horfield conveyancing solicitor to apply to be on the conveyancing panel.
What is the first thing I need to know about purchase conveyancing in Horfield?
You may not hear this from too many lawyers but conveyancing in Horfield or throughout Bristol is an adversarial process. Put another way, when it comes to conveyancing there is lots of room for conflict between you and other parties involved in the legal transfer of property. For instance, the vendor, selling agent and sometimes a lender. Selecting a solicitor for your conveyancing in Horfield is a critical decision as your conveyancer is your adviser, and is the ONLY party in the process whose responsibility is to protect your legal interests and to protect you.
Every so often a third party with a vested interest may attempt to convince you that it is in your interests to do things their way. For instance, the selling agent may claim to be helping by claiming that your solicitor is slow. Or your financial adviser may advise you to do something that is against your solicitors guidance. You should always trust your lawyer above all other parties in the home moving process.
My brother-in-law has suggested I instruct a conveyancing solicitor in Horfield. I need to find out whether they are accepted on the Coventry Building Society conveyancing panel. Could you advise?
You should e-mail the lawyer and enquire whether they are on the lender panel. Alternatively please get in touch with Coventry Building Society who may be able to assist.
How does conveyancing in Horfield differ for new build properties?
Most buyers of new build property in Horfield come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because builders in Horfield tend to 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 Horfield or who has acted in the same development.
How simple is it to use your search facility to locate a conveyancing lawyer in Horfield on the panel for my lender?
Step one is to pick a mortgage company such as Barclays , The Royal Bank of Scotland or Godiva Mortgages Ltd then type in your location e.g. Horfield. Conveyancing practices in Horfield and further afield will then be listed.
Should I go with a Horfield conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can conduct the legal work but his firm is located a couple of hundredmiles drive away.
The primary upside of using a high street Horfield conveyancing practice is that you can visit the firm to execute paperwork, present your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were content that should outweigh using an unfamiliar Horfield conveyancing solicitor just because they are Horfield based.