We are buying a 3 bedroom flat in Paignton with a mortgage. We like our Paignton conveyancer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Paignton conveyancing practitioner and pay for one of their panel ones to represent them. We regard this is inequitable; is there anything we can do?
No, not really. 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 Paignton conveyancing lawyer to apply to be on the conveyancing panel.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Paignton. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/4/2021, the requirements read as follows :
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Paignton?
There are many registered licenced Conveyancers in Paignton and Solicitor partnerships in Paignton who can help with your conveyancing It is important to make clear that both are regulated professionals specialising in the legal work in transferring property. They may both also deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Paignton. Do I pick up the keys to the premises on the completion date from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Paignton?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be able to receive the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
I have decided to exercise my right to buy my property in Paignton off the council. I have a mortgage agreed with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I need some fast conveyancing in Paignton as I am faced with an ultimatum to exchange contracts inside one month. A mortgage is not required. Is it possible to decline from having conveyancing searches to save money and time?
As you are not obtaining a mortgage you are at liberty not to do searches although no law firm would advise that you don't. With lots of history conveyancing in Paignton the following are instances of what can crop up and therefore affect market value: Enforcement Actions, Outstanding Fees, Overdue Grants, Road Schemes,...
Due to the guidance of my in-laws I had a survey completed on a property in Paignton ahead of instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies will refuse to give a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Paignton. Conveyancing will be smoother if you use a solicitor in Paignton especially if they regularly deal with such properties in Paignton.
At last I have had an offer on an maisonette in Paignton accepted, the owner does however have a tied purchase. The owners have offered on somewhere, although it’s not been accepted yet, and has viewings of other properties booked. I have selected a nearby conveyancing lawyer in Paignton. What should be my next step? When should I get the mortgage application with Aldermore started with Aldermore?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then valuation, Paignton conveyancing search fees, etc). First, you should ensure that your property lawyer is on the Aldermore approved list. As to the subsequent phase this very much depends on the specifics of your transaction, desire for this property and on the state of the market. In a rising market the majority of home buyers would apply for the mortgage with Aldermore and pay for the valuation and only if it comes back ok would they request their property lawyer to move forward with searches.