Me and my fiance are purchasing a 1 bedroom flat in Weymouth with a mortgage. We like our Weymouth lawyer, however the lender advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or retain our Weymouth conveyancer as well as pay for one of their panel lawyers to act for them. We consider that this is inequitable; is there anything we can do?
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. Another option that might be available is for your Weymouth conveyancing solicitor to apply to be on the conveyancing panel.
My husband and I are only a couple days away from an exchange on a house in Weymouth and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now told that as the deposit has not arrived from me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The conveyancer is legally required to check with the bank to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I am considering applying for a HSBC mortgage for purchase of a new build (under development) in Weymouth with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?
There is nothing to stop you using your solicitor, but HSBC will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial premises in Weymouth?
Many commercial conveyancing solicitors in Weymouth will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Weymouth. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Weymouth.
For each commercial conveyancing transaction in Weymouth it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Weymouth commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Weymouth.
I decided to have a survey done on a house in Weymouth in advance of instructing conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some lenders may not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Weymouth. Conveyancing will be smoother if you use a solicitor in Weymouth especially if they are acquainted with such properties in Weymouth.
In sourcing the world wide web for the words conveyancing in Weymouth it brings up many solicitorsin the area. How do I determine which is the suitable conveyancer for my move?
The preferential way of seeking a suitable conveyancer is via trusted referral, so enquire of friends and those you trust who have bought a property in Weymouth or the local estate agent or mortgage broker. Costs for conveyancing in Weymouth vary, so it's sensible to request at least four costs illustrations from different conveyancers. Dont forget to clarify that the fees are fixed.