I am 4 weeks into the sale of my maisonette in Newquay and the EA has just text me to say that the buyers are switching property lawyer. I am told that this is due to the fact that the lender will only engage with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only deal with specific solicitors rather the firm that they want to appoint for their conveyancing in Newquay ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
My solicitor has discovered a a legal deficiency with the lease for the flat we are buying in Newquay. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. These conveyancing instructions must be adhered to.
When does exchange of contracts take place for sale conveyancing in Newquay and do I need to attend the conveyancers branch?
Where you are in close proximity to one of the conveyancing solicitors in Newquay you are welcome to come in to sign documents. However, the firms we recommend offer countrywide coverage for conveyancing and give just as diligent and professional a job for you when communicating with you by post or email. The executing of the contract is not when everything is set in stone. A signed contract is necessary for the conveyancer to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Newquay)to be in the office at the appropriate time.
My lawyer in Newquay is not on the Norwich and Peterborough Building Society Solicitor Panel. Can I still continue with my prefered solicitor notwithstanding that they are excluded from the Norwich and Peterborough Building Society approved list?
Your options are as follows:
- Complete the purchase with your preferred Newquay lawyers but Norwich and Peterborough Building Society will need to use a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees and cause frustration.
- Choose an alternative practitioner to act in the conveyancing, remembering to check they are on the Norwich and Peterborough Building Society panel
I can see plenty of information on this site concerning conveyancing in Newquay but what is your top tip for appointing the right conveyancer in Newquay
It would be unwise to be swayed by the cheapest Newquay conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We have a mortgage agreed in principle with Skipton. Newquay conveyancing lawyers are chosen. How long does it take for Skipton to send the offer to the conveyancing practitioner?
There is no definitive answer here. Have Skipton completed the valuation? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have decided to exercise my right to buy my property in Newquay off the council. I have a mortgage agreed with Lloyds. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I require fast conveyancing in Newquay as I am faced with an ultimatum to sign on the dotted line within 3 weeks. Fortunately I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not getting a home loan you are at liberty not to have searches conducted although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Newquay the following are instances of issues that can be revealed and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...