My husband and I are buying a 2 bedroom flat in Lee On The Solent with a mortgage. We would like to retain our Lee On The Solent conveyancer, but the bank advise she’s not on their "panel". It appears that we have no choice but to appoint one of the mortgage company panel firms or keep our Lee On The Solent solicitor and pay for one of their panel ones to represent them. This feels very unfair; are we not able to demand that the bank use our Lee On The Solent conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Lee On The Solent conveyancing lawyer to apply to be on the conveyancing panel.
Do the Building Society Association intend to launch a online directory to to identify firms on the Coventry BS conveyancing panel for instance in Lee On The Solent?
We would not expect to be advised of any intention on the part of the BSA to promote such a tool.
Will my conveyancer be raising questions concerning flooding during the conveyancing in Lee On The Solent.
Flooding is a growing risk for solicitors dealing with homes in Lee On The Solent. There are those who purchase a property in Lee On The Solent, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, but there are a numerous checks that may be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Lee On The Solent. The conventional set of property information forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to determine if the premises has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the seller, then a buyer may bring a legal claim for losses stemming from an inaccurate response. The purchaser’s solicitors may also carry out an enviro search. This should reveal whether there is any known flood risk. If so, additional inquiries should be initiated.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Lee On The Solent I like with amenity areas and railway links nearby, however it only has 51 years unexpired on the lease. There is not much else in Lee On The Solent suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
My company is intending to lease a unit on a shopping parade. Can you recommend solicitors offering competitive fees for non-domestic conveyancing in Lee On The Solent for under £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Lee On The Solent, including the disposal and purchase of businesses as well as simply premises. If you are looking to purchase or sell a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right solicitor. Regarding the costs this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or telephone us so that we can furnish you with a detailed commercial conveyancing quote.
I have chosen a Lee On The Solent conveyancing solicitor for our home move (first time buyers) and have noticed in the terms and conditions that they are not regulated by the FCA. Need I be concerned or is that the norm with conveyancer?
We can't see why they should be. Most conveyancing practitioner don't lend money. They will be regulated by the Solicitors Regulation Authority, who have specific conditions regulating funds held by them.