Me and my partner are purchasing a 1 bedroom apartment in Okehampton with a mortgage. We wish to retain our Okehampton solicitor, but the bank advise she’s not on their "panel". We have to appoint one of the bank panel firms or keep our Okehampton solicitor and pay for one of their panel ones to represent them. We feel that this is inequitable; are we not able to demand that the mortgage company use our Okehampton property lawyer ?
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 Okehampton conveyancing solicitor to apply to be on the conveyancing panel.
We are getting closer to an exchange on a flat in Okehampton and my parents have sent the 10% deposit to my conveyancer. I am now told that as the deposit has been received from someone other than me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your lawyer is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
It is a dozen years since I bought my home in Okehampton. Conveyancing solicitors have now been retained on the sale but I am unable to find the title documents. Is this a major issue?
Don’t worry too much. First the deeds may be kept by the mortgage company or they may be in the possession of the conveyancers who acted in the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. Most conveyancing in Okehampton involves registered property but in the rare situation where your home is not registered it is more tricky but is resolvable.
How does conveyancing in Okehampton differ for new build properties?
Most buyers of new build or newly converted property in Okehampton contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Okehampton tend to acquire the land, 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 Okehampton or who has acted in the same development.
I am a sole trader planning to lease a unit on a shopping parade. Can you recommend solicitors offering competitive costs for commercial conveyancing in Okehampton for less than 1500k?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Okehampton, including the sale and purchase of businesses as well as simply property. Whether you are intending to acquire or lease a shop, pub, restaurant, office, retail unit or a complete business we will put you in touch with the right firm. As for the charges this will depend on the structure and heads of terms of the deal. Let us have your details or email so as to enable us to furnish you with comprehensive commercial conveyancing quote.
My step-father has recommend that I appoint his lawyers for conveyancing in Okehampton. Do I follow his guidance?
There are no two ways about it the best way to choose a conveyancing practitioner is to have guidance from friends or relatives who have actually used the conveyancer you're are thinking of instructing.