My wife and I are buying a 2 bedroom flat in Fishguard with a mortgage. We like our Fishguard conveyancer, however the mortgage company says she’s not on their "panel". It seems we have little option but to instruct one of the lender panel firms or keep our Fishguard solicitor 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 Fishguard property lawyer ?
No, not really. Your mortgage offer 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 Fishguard conveyancing solicitor to apply to be on the conveyancing panel.
Our Fishguard conveyancer has spotted a discrepancy between the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My solicitor has advised that he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Is there a search tool that I can utilise to find out if the solicitor conducting my conveyancing in Fishguard is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £192.00 in supplemental legal charges.
You should make use of the find a conveyancing panel solicitor tool on this web page. Pick the lender and type ‘Fishguard’ or your location and you will discover a number of lawyer based in Fishguard or by proximity to you.
Me and my partner are buying a house in Fishguard. It might be a silly question but how we can trust a solicitor? At some point we will need to deposit money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My lawyer has informed me that flying freehold insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Fishguard?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Aldermore are being pedantic. The Fishguard solicitor who is on the Aldermore conveyancing panel is saying indemnity insurance will be fine but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Will commercial conveyancing searches disclose impending roadworks that may affect a commercial land in Fishguard?
Many commercial conveyancing solicitors in Fishguard will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Fishguard. The report sets out definitive data 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 Fishguard.
For every commercial conveyancing transaction in Fishguard it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Fishguard commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Fishguard.
I have been on the look out for a flat up to £305k and found one round the corner in Fishguard I like with a park and transport links nearby, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Fishguard in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.