I am buying an apartment in Bridport. My property lawyer is not listed on the bank approved list. Is it possible for me to retain my Bridport conveyancing solicitor even though they are not on the lender panel?
One will need to use a lawyer to complete the legal work required if you require a mortgage to purchase your home. They will carry out all the necessary legal checks on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage paperwork is in order. You can instruct a Bridport property lawyer of your choice. However, if the conveyancer selected is not a member of the mortgage company solicitor panel additional costs will arise as separate legal representation will be required by them. Lender panel applications can be submitted, so provided your solicitor has not previously sought membership they should take the chance to apply.
My husband and I are buying a new build flat in Bridport and my lawyer is advising me that she has to the bank to disclose incentives from the builder. I am nearing the developer’s deadline to exchange and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I require fast conveyancing in Bridport as I have pressure to sign on the dotted line inside 4 weeks. Thankfully I do not require a mortgage. Can I avoid the conveyancing searches to save money and time?
As you are not getting a mortgage you are at free not to do searches although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Bridport the following are examples of what can arise and therefore impact the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I own a terraced Edwardian property in Bridport. Conveyancing practitioner represented me and Clydesdale. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bridport and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing solicitor who completed the work.
How does conveyancing in Bridport differ for newly converted properties?
Most buyers of new build premises in Bridport contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Bridport usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bridport or who has acted in the same development.
What is the reason for new build conveyancing in Bridport being more expensive?
Buying a new build property is significantly different from the normal house buying conveyancing in Bridport. For a start developers ordinarily insist contracts to exchange very quickly, the result being a a great deal of pressure on your solicitor to make sure everything is in order. Furthermore new build properties frequently involve the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Bank obligations are also more demanding. Due to the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.