We are hoping to purchase a 3 bedroom flat in Tenterden with a mortgage. We have a Tenterden conveyancer, but the bank advise she’s not on their "panel". It seems we have no option but to instruct one of the mortgage company panel firms or continue with our Tenterden lawyer as well as pay for one of their panel firms to act for them. This feels very unfair; are we not able to insist that the bank use our Tenterden conveyancing practitioner ?
No, not really. 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. A further alternative is for your Tenterden conveyancing lawyer to apply to be on the conveyancing panel.
In the event thatI were to buy a simple residential homein Tenterden for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Tenterden?
Any savings you would achieve would be limited to the Tenterden conveyancing searches. The lawyer still got to do everything else - money laundering, liaising with the vendors conveyancer, stamp duty submission, register the ownership etc. A slight saving might be made by not having to register a mortgage but it will not be significant.
Do the Building Society Association intend to launch a search tool with a view to to identify practices on the Norwich and Peterborough Building Society conveyancing panel for instance in Tenterden?
We have not been informed any intention on the part of the BSA to promote such a register.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Tenterden?
Two types of professional can conduct conveyancing in Tenterden namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that required to complete the disposal or purchase of property. They are both obliged to carry out Tenterden conveyancing on similar quality and guidelines so you may be sure that your conveyancing will be properly administered and that the requirements and steps will be correctly taken.
My uncle advised me that in purchasing a property in Tenterden there could be various restrictions as to what one can do in terms of external changes to the property. Is this right?
We are aware of a number of properties in Tenterden which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Tenterden should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I was told two weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Tenterden is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been on the look out for a flat up to £235,500 and identified one near me in Tenterden I like with a park and railway links nearby, however it's only got 49 remaining years left on the lease. I can't really find anything else in Tenterden in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 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 with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Do I need to pop into the offices of the bank conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Tenterden as it will be easier to pop in to their offices if necessary.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Tenterden.