My partner and I are planning to purchase a flat in Southbourne and have appointed a Southbourne conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Coventry Building Society have this evening contacted us to advise us that there is now an issue as our Southbourne conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Southbourne solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Is there a list of Lloyds panel solicitors in Southbourne on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings viewable online. If you are seeking to appoint a Southbourne conveyancer on the Lloyds please make the most of our tool.
We had appointed conveyancers located in Southbourne on the Nottingham solicitor approved list. They have just invoiced me a separate charge for handling the Nottingham mortgage. Is this a supplemental conveyancing fee specified by Nottingham?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner may levy a fee for this. The fee is not set by Nottingham but by your Southbourne conveyancing practitioner. Plenty of firms on the Nottingham panel will levy ’dealing with mortgage’ fee but many firms incorporate it on their overall fee.
I have instructed a Southbourne conveyancing practitioner having checked that they are on the Co-operative conveyancing panel. Does my lawyer arrange the survey of the property?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative 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. You may wish to consider appointing your own Southbourne surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will commercial conveyancing searches disclose proposed roadworks that may impact a commercial property in Southbourne?
Its becoming the norm that commercial conveyancing solicitors in Southbourne will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Southbourne. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Southbourne.
For each commercial conveyancing transaction in Southbourne it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Southbourne commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Southbourne.
How does conveyancing in Southbourne differ for newly converted properties?
Most buyers of new build property in Southbourne approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because developers in Southbourne usually buy the site, 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 property lawyers 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 Southbourne or who has acted in the same development.
I opted to have a survey completed on a house in Southbourne in advance of instructing lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders may not issue a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Southbourne. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Southbourne to see if the conveyancing will be more expensive.
How do I use your search app to choose a conveyancing practitioner in Southbourne on the approved list for my mortgage?
First select a bank such as Santander, Chelsea Building Society or Clydesdale then specify your preferred area such as Southbourne. Conveyancing firms in Southbourne and beyond will then be listed.