My partner and I are hoping to buy a property in Peacehaven and are in fact using a Peacehaven conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Bank of Ireland have this morning contacted us to inform me that they have now hit a problem as our Peacehaven lawyer is not on their conveyancing panel. What do we do from here?
Where you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Peacehaven lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Our mortgage company has suggested a law firm on their panel based in Peacehaven but I would rather use a conveyancing lawyer in Peacehaven or nearer to where I live. Can you assist?
Not all Peacehaven conveyancing practices are on all lender’s conveyancing panel. Please make the most of our find an approved solicitor tool to identify a Peacehaven conveyancing solicitor on the on the mortgage company panel.
Should our solicitor be making enquiries regarding flooding as part of the conveyancing in Peacehaven.
Flooding is a growing risk for solicitors conducting conveyancing in Peacehaven. Plenty of people will acquire a house in Peacehaven, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, however there are a numerous checks that may be undertaken by the purchaser or by their conveyancers which will give them a better understanding of the risks in Peacehaven. The conventional set of property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the seller to determine if the property has ever been flooded. If flooding has previously occurred which is not revealed by the owner, then a buyer may bring a claim for damages resulting from an misleading response. A buyer’s conveyancers may also conduct an enviro report. This should disclose if there is a recorded flood risk. If so, more detailed inquiries should be conducted.
Due to the encouragement of my in-laws I had a survey completed on a property in Peacehaven prior to appointing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor advised that some mortgage companies will not give a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Peacehaven. Conveyancing will be smoother if you use a solicitor in Peacehaven especially if they are familiar with such properties in Peacehaven.
Hoping to buy a property located in Peacehaven and I am already nervous. I couldn't find anything specific about Peacehaven. Conveyancing will be needed in due course but do you know about the Peacehaven area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Peacehaven. In the meantime here are some basic statistics that we found
My brother is buying a basement flat in Peacehaven. He was given a quote by the property lawyer connected to the selling agents totaling £1245 . It was seven years ago I sold and purchased a property and the fee was £495. Have charges really gone up that much?
You should call a few local Peacehaven conveyancing firms requesting prices. It is advisable to base your decision not only on cost, but on promptness and on how comprehensive the response was.