Am I correct in assuming that the fact that my solicitor in Swanage is not identified on my bank's conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Swanage conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Our lender has recommended a law firm on their panel based in Swanage but I would rather use a conveyancing lawyer in Swanage or nearer to where I live. Are you able to help?
The minority of Swanage conveyancing practitioners are approved and listed on all banks conveyancing panel. Please make the most of the above find an approved solicitor tool to locate a Swanage conveyancing firm on the on the mortgage company panel.
How does conveyancing in Swanage differ for new build properties?
Most buyers of new build residence in Swanage come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Swanage 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 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 accustomed to new build conveyancing in Swanage or who has acted in the same development.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Swanage I like with a park and railway links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Swanage suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan that many years will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
How do I use your search facility to find a conveyancing solicitor in Swanage on the authorised to act for my mortgage?
First select a mortgage company such as Lloyds TSB Bank, The Mortgage Works or Nottingham Building Society then choose your preferred area e.g. Swanage. Conveyancing organisations in Swanage and beyond should be shown.
My wife and I are acquiring a first floor flat in Swanage. At the time of instructing our lawyer, we were told they were on all mainstream lender panels. The financial adviser emailed just now to advise that they are not on the Nottingham approved list. Were it to be true, what should we do? Do we just pick a different lawyer that is on their approved list or should we pay for dual representation, with Nottingham appointing their own preferred conveyancing practitioner.
Where you are buying a property requiring a mortgage it is conventional for the purchaser’s solicitors to also act for the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the solicitor has to meet. Some building societies now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact Nottingham to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on Nottingham's conveyancing panel as you are at liberty to use your preferred Swanage lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.