We are purchasing a 3 bedroom flat in Shanklin with a mortgage. We like our Shanklin solicitor, however the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or keep our Shanklin property lawyer as well as pay for one of their panel firms to represent them. We regard this is unjust; is there anything we can do?
No, not really. 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 Shanklin conveyancing solicitor to apply to be on the conveyancing panel.
What is the first thing I need to know regarding purchase conveyancing in Shanklin?
You may not hear this from too many lawyers but conveyancing in Shanklin or throughout England and Wales is an adversarial process. Put another way, when it comes to conveyancing there is lots of room for conflict between you and others involved in the home moving process. For instance, the vendor, property agent and on occasion your lender. Selecting a law firm for your conveyancing in Shanklin is a critical decision as your conveyancer is your adviser, and is the SOLE party in the transaction whose interest is to look after your legal interests and to keep you safe.
On occasion a potential adversary may attempt to convince you that it is in your interests to do things their way. For instance, the property agent may claim to be assisting by claiming that your solicitor is wrong. Or your financial adviser may tell you to do something that is against your conveyancers guidance. You should always trust your lawyer above all other parties in the home moving process.
My wife and I own a renovated Edwardian house in Shanklin. Conveyancing lawyer represented me and Godiva Mortgages Ltd. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Shanklin and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing practitioner who completed the work.
How does conveyancing in Shanklin differ for new build properties?
Most buyers of new build premises in Shanklin approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Shanklin 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 Shanklin or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Shanklin is the location of the property. What do you suggest?
Flying freeholds in Shanklin are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shanklin you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shanklin may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My fiance and I are searching for an affordable conveyancing solicitor in Shanklin to assist me in selling my home. I want to avoid being ripped off but with so many Shanklin conveyancing practices out there...how do I know which one is best to appoint?
If you have not instructed a property lawyer in the past, a personal recommendation through family or friends is a preferable starting point and is often a good indicator of quality. As an alternative option, consult the Law Society’s online directory of lawyers in Shanklin or make use of our search tool to choose a conveyancing solicitor in Shanklin.