My husband and I are purchasing a 1 bedroom flat in Laceby with a mortgage. We like our Laceby conveyancer, however the lender says she’s not on their "panel". It seems we have little choice but to instruct one of the mortgage company panel firms or continue with our Laceby lawyer as well as pay for one of their panel firms to act for them. This seems very unfair; are we not able to demand that the mortgage company use our Laceby solicitor ?
Unfortunately,no. The mortgage offered to you 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. Another option that might be available is for your Laceby conveyancing solicitor to apply to be on the conveyancing panel.
Our god-son is in the process of securing a newly built flat in Laceby with a mortgage from Kent Reliance. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Kent Reliance conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We're in Laceby, First time buyers purchasing with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How does conveyancing in Laceby differ for newly converted properties?
Most buyers of new build or newly converted property in Laceby approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Laceby tend to acquire the real estate, 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 conveyancing solicitors 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 Laceby or who has acted in the same development.
We're FTB’s - had an offer accepted, yet the estate agent informed us that the vendor will only proceed if we instruct the agent's preferred conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a high street conveyancer with experience of conveyancing in Laceby
It is unlikely the vendors are driving this. If they want ‘a quick sale', taking such a hostile approach to a genuine buyer is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make the point that (a)you are motivated purchasers (b)you are ready to progress, with finances arranged © you are chain free (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Laceby conveyancing solicitors - as opposed tothe ones that will give their estate agent a commission or achieve conveyancing thresholds set by head office.
Should I be worried if there is an issue with the searches carried out as part of our conveyancing in Laceby?
Ordinarily, the majority of adverse entries that arise in Laceby conveyancing search responses can be dealt with in advance of completion or title insurance can be put in place. You need to note that although you are purchasing the premises and might be willing to live with the search results, your lender may not, and when all said and done have the final decision.