Me and my partner are purchasing a 3 bedroom flat in Mudeford with a mortgage. We would like to retain our Mudeford lawyer, however the bank says she’s not on their "panel". It seems we have no choice but to use one of the bank panel solicitors or keep our Mudeford property lawyer as well as pay for one of their panel lawyers to act for them. We regard this is unjust; are we not able to demand that the lender use our Mudeford lawyer ?
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 Mudeford conveyancing solicitor to apply to be on the conveyancing panel.
The owners have rather pushy sellers who has suggested a preliminary agreement with a non-refundable deposit two thousand pounds. Is it wise to enter into such agreements?
This form of arrangement isn't common in Mudeford, conveyancers will often encourage clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the solicitor is left exposed. Furthermore, there is no certainty that just because the owner has entered into an exclusivity agreement they will sell to you. They may be inclined to break the contract if they are offered a big enough financial inducement to do so because an aggrieved party with the benefit of a lockout agreement will still be legally obliged to show losses as a consequence of the breach and these may not compare to the financial benefit that your seller may obtain by breaking the agreement, no matter how morally reprehensible it undoubtedly is.
I require quick conveyancing in Mudeford as I am faced with an ultimatum to complete in less than 3 weeks. Fortunately I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
As you are are a mortgage free buyer you are at liberty not to do searches although no law firm would advise that you don't. With plenty of history conveyancing in Mudeford the following are instances of what can show up and adversely impact the marketability of the property: Enforcement Actions, Overdue Fees, Outstanding Grants, Road Schemes,...
I decided to have a survey done on a house in Mudeford prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some lenders tend not issue a loan on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Mudeford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mudeford to see if the conveyancing costs will increase in light of this.
Am I right to be wary about 3rd parties that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a High Street Mudeford conveyancing practice?
As with many service providers, often suggestions from relatives can be extremely useful or valuable. Yet there are numerous players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies might all put forward lawyers to select. On occasion these conveyancers might be known to one of the organisations as experts in their field, but sometimes there is an underlying commercial relationship behind the recommendation. You are free to select your preferred lawyer. However, bear in mind that the majority of lenders operate an approved list of law firms you must use for the mortgage related work in your home move.
Please can you clarify what my options are where my Mudeford conveyancing searches reveals detrimental entries?
Normally, almost all adverse entries revealed in Mudeford conveyancing search results can be dealt with before completion or title insurance could possibly be put on cover. You should remember that although you are acquiring the property and might be content to accept the search results, your lender may not, and ultimately the decision rests with them.