Me and my partner are buying a 3 bedroom apartment in Southwold with a mortgage. We like our Southwold solicitor, however the lender says she’s not on their "panel". It seems we have little choice but to use one of the mortgage company panel solicitors or keep our Southwold lawyer and pay for one of their panel ones to represent them. We regard this is inequitable; is there anything we can do?
No, not really. 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 Southwold conveyancing lawyer to apply to be on the conveyancing panel.
Please could you suggest a Halifax allowed Southwold conveyancing lawyer who can have us moved in within 10 days? Would it be better to use a high street Southwold solicitor or a factory type conveyancer?
We can recommend some very good Southwold conveyancing firms. You can also walk up the main road in Southwold. Approach a couple of firms and request to see a conveyancing solicitor for a fee estimate. Explain your requirements together with your reasons and get a commitment on your deadline. Appoint the one that appears most efficient.
My partner and I are close to exchanging contracts on the sale of our home in Southwold and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street Southwold conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a web based conveyancing firm as opposed to a conveyancing solicitor in Southwold. Having lived in Southwold for six years we know that this is a non issue. Do we get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I have been on the look out for a flat up to £305k and identified one near me in Southwold I like with open areas and railway links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Southwold for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I have been pointed in your direction by three or four local estate agents in Southwold to choose a property lawyer using your seach tool. What’s the financial advantage for Estate Agents to market your site over alternative conveyancing organisations?
We don’t give any referral fee for pointing buyers and sellers in our direction. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Me and my wife are selling a Southwold apartment left to us 5 years ago in 2010. I have over 12 years conveyancing experience and, now retired, see no reason not to carry out the conveyancing. The buyer's conveyancer has informed me that their Lenders will not allow you to do your own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Mortgage instructions to solicitors from all CML members specify that If the seller does not have legal representation the purchaser’s lawyers should check whether the lender needs to be notified so that a decision can be made as to whether they are willing to progress.