We are intending to purchase a 3 bedroom flat in Southsea with a mortgage. We like our Southsea solicitor, but the bank says he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Southsea conveyancer and pay for one of their panel firms to represent them. This feels very unfair; can we not insist that the bank use our Southsea solicitor ?
Unfortunately,no. The mortgage offered to you 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. A further alternative is for your Southsea conveyancing lawyer to apply to be on the conveyancing panel.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Southsea so that I can attend their offices if necessary.
As opposed to ten years ago, the vast majority banks no longer require their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to supply ID documents and there are still manifest benefits to instructing a locally based practitioner, in your situation a conveyancing solicitor in Southsea.
When it comes to mortgage companies such as Nationwide, do Southsea solicitors incur a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I am purchasing a property in Southsea. A rare aspect is that the roof has a solar panel. Aldermore have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Aldermore your lawyer must comply with the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Aldermore. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and solicitors are required to report to Aldermore where a lease fails to satisfy these specifications. The specifications relate to the installation of panels on properties countrywide and is not limited to Southsea.
I am currently in the process of buying my council flat in Southsea. I have a mortgage agreed with Clydesdale. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
I used Arc property Solicitors several years past for my conveyancing in Southsea. Now, I need my documents but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Southsea of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Southsea I like with open areas and transport links nearby, however it's only got 52 remaining years left on the lease. I can't really find anything else in Southsea for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage that many years may be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Me and my husband are buying a leasehold property in Southsea. Conveyancing quotes are averaging around £1650. Is that reasonable?
The average fee last year for conveyancing in Southsea was just under one thousand five hundred pounds not including SDLT and HM Land Registry fees.