I am acquiring a ground floor flat in Potton. My lawyer has never been on on the bank solicitor panel. Is it possible for me to continue with my Potton conveyancing solicitor even though they are excluded from the bank approved list?
You have a number of options available to you here
- Complete the deal with your preferred Potton conveyancer but your bank will no doubt use a conveyancer from their approved list. The net result is additional charges together with potential frustration.
- Choose a fresh property lawyer to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Convince your conveyancer to do everything within their powers to join the mortgage company panel of solicitors
Our solicitor has identified a defect with the lease for the flat we are buying in Potton. The other side have offered defective title insurance as a solution. We are content with insurance and will pay for it. Our solicitor says that he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
If you had a top tip for choosing a conveyancing solicitor in Potton what would it be?
It would be unwise to be swayed by the cheapest Potton conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
My aunt pointed out to me me that in purchasing a property in Potton there may be various restrictions limiting what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Potton which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Potton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm in the process of viewing flats in Potton and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a home loan with Santander.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are getting a mortgage with Santander, make sure you remember to check that your lawyer is on the Santander conveyancing panel.
My wife and I are selling our property in Potton and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the buyers used a national conveyancing outfit rather than a conveyancing solicitor in Potton. Having lived in Potton for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to get confirmation need.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
What makes your site different to other internet conveyancing brokers when it comes to conveyancing in Potton?
At this site get an accurate quote via a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Potton. Unlike many estate agents and many comparison sites we do not charge firms a fee if you instruct them for your home move in Potton
We are in the process of selling our flat in Potton. Conveyancing is fine but we are being charged an extortionate amount by the freeholder. So far we have issued a cheque for £237 for a leasehold management information and then a further £117.20 for answers to questions supplied by the purchaser's property lawyer.
You will not have any say over the level of the bill for this information however the typical fee for the information for Potton leasehold property is £395. For Potton conveyancing deals it is customary for the seller to cover the charges. The landlord or their agents are not duty bound to address these questions most will be willing to do so - albeit often at high prices disproportionate to the work involved. Regretfully there is no legislation that mandates capped charges for administrative tasks. Nor is there any statutory time limit by which they are duty bound to provide answers.