My mortgage broker has asked me for my Hythe law firm’s panel reference for the Nat West conveyancing panel. Can you suggest how I obtain this. I have contacted my local Hythe office but they cant find it on their system.
The sensible thing to do is ask for this information from your Hythe lawyer . They retain a central record lender panel numbers.
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Hythe so that I can pop in to their offices if necessary.
Whereas this was necessary twenty years ago, almost all mortgage companies no longer oblige their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to hand over identification documents and there are still manifest advantages to instructing a local practitioner, in your case a conveyancing solicitor in Hythe.
How does conveyancing in Hythe differ for new build properties?
Most buyers of new build premises in Hythe approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Hythe typically acquire 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 property lawyers 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 used to new build conveyancing in Hythe or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Hythe is the location of the property. What do you suggest?
Flying freeholds in Hythe are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hythe you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hythe may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am 17 days into a leasehold purchase having been recommend to a firm by the high street agent to handle our conveyancing in Hythe. We are not happy. Could you help me find new solicitors?
A lawyer would have to be very poor to suggest changing them. Has your mortgage been generated? If so you must make them aware of the new contact details and get the loan are issued to the new lawyers. The solicitor ideally should be on the banks approved list to avoid added costs and frustration. That should be your starting point. The find a solicitor tool can help you find a lender approved solicitor for your conveyancing in Hythe
My nephew is about to join the property ladder, he had his mortgage in principle. One the offer was accepted on house we called the mortgage company to issue the formal offer. We were very surprised to discover that mortgage lenders do not accept all conveyancer, they have to be on a list, is this legal?
Mortgage Companies tend to restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Hythe solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.