Me and my partner are buying a 1 bedroom apartment in Fowey with a mortgage. We wish to retain our Fowey conveyancer, but the bank says she’s not on their "panel". We have to appoint one of the lender panel firms or retain our Fowey conveyancer as well as pay for one of their panel ones to act for them. This feels very unfair; are we not able to insist that the bank use our Fowey 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 Fowey conveyancing solicitor to apply to be on the conveyancing panel.
IfI was to purchase a simple residential propertyin Fowey mortgage fee and dispense with a survey and no local authority searches how much would I expect to have to pay for conveyancing in Fowey?
Any savings you would gain will be isolated to the costs for searches. The property lawyer still got to do everything else - money laundering, communicating with the sellers lawyer, SDLT return, register the property etc. A marginal saving might be made by not needing to register a mortgage but it won't be significant.
When it comes to lenders such as Santander, do Fowey property lawyers have to pay a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I have decided to exercise my right to buy my property in Fowey off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
Planning on purchasing a flat in Fowey. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Fowey conveyancing practitioner is on the Skipton conveyancing panel.
I have been on the look out for a ground for flat up to £195,000 and found one round the corner in Fowey I like with a park and transport links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Fowey suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
How do I identify a Fowey law firm on the Accord Mortgages Ltd conveyancing panel? I have a car and am willing to travel upto 25miles to meet the lawyer.
Feel free to make use of the tool on this website. Please choose the lender and your location and you will see a number of Fowey conveyancing lawyers located nearest you. We have detailed some Fowey conveyancing firms towards the end of this page and you can ring them to verify whether they are on the Accord Mortgages Ltd member panel
My brother-in-law has suggested I instruct a conveyancing solicitor in Fowey. I need to find out if they are listed on the lender's conveyancing panel. Can you assist?
You should contact your conveyancer to check if they are on the lender's approved list. Alternatively please get in touch with us and we can investigate and revert. If they are not on the bank panel we can certainly arrange a specialist conveyancing solicitor in Fowey on the panel for your mortgage company.