We are planning to buy a 1 bedroom apartment in Lightwater with a mortgage. We have a Lightwater lawyer, however the bank says he's not on their "panel". It appears that we have no option but to instruct one of the lender panel solicitors or retain our Lightwater solicitor as well as pay for one of their panel ones to represent them. We consider that this is inequitable; can we not require that the bank use our Lightwater lawyer ?
Unfortunately,no. 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. Another option that might be available is for your Lightwater conveyancing lawyer to apply to be on the conveyancing panel.
We are only a couple days away from an exchange on a house in Lightwater and my mum and dad have transferred the 10% deposit to my conveyancing practitioner. I am now told that as the deposit has been received from someone other than me my lawyer needs to make a notification to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I disclosed to the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The conveyancer is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I am due to move home in May. Will my conveyancing solicitor communicate with the removal company on the day of completion. As an aside, can you suggest a removal company in Lightwater. Conveyancing firm was chosen before I stumbled across your website.
On the day of completion you will need to collect the house keys from the estate agent but this should only occur once the sellers conveyancers inform the agent that they have the completion monies and the keys can be released. After that you will need to inform the removal men that you are ready to move in. As a matter of policy we do not recommend a particular removal company but can assist you in finding a conveyancing in Lightwater or a solicitor that specialises in conveyancing in Lightwater.
Two weeks ago we had a mortgage agreed in principle with Clydesdale. Lightwater conveyancing lawyers are appointed. How long does it take for Clydesdale to send the offer to the property lawyer?
There is no definitive answer here. Have Clydesdale completed the valuation? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
After shopping around on the internet I have found a Lightwater lawyer having made sure that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Lightwater postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Lightwater.
A colleague advised me that if I am purchasing in Lightwater I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Lightwater conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Lightwater around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Lightwater.
How does conveyancing in Lightwater differ for new build properties?
Most buyers of new build or newly converted property in Lightwater come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Lightwater usually purchase 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 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 accustomed to new build conveyancing in Lightwater or who has acted in the same development.
I am 17 days into a residential purchase having been directed to conveyancers by the local agent to perform conveyancing in Lightwater. I am not happy. Could you help me find new lawyers?
They would have to be really poor in order to consider changing them. Has the loan offer been generated? In the event that it has you will need to advise them of the new contact details and have the offer are re-issued. The solicitor ideally should be on the banks approved list to avoid escalating charges and complications. So that should be your first question of the new solicitors. Our find a solicitor tool should help you find a lender approved solicitor for your conveyancing in Lightwater