Me and my fiance are intending to buy a 1 bedroom flat in Water Orton with a mortgage. We like our Water Orton solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the lender panel firms or keep our Water Orton conveyancing practitioner and 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 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 Water Orton conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I swapping mortgage lender for our maisonette in Water Orton with Principality. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Principality conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Principality conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Principality. This is solely used to protect Principality if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Principality had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to appoint a Water Orton based conveyancing firm?
Do check but the the likelihood is that give you one of their panel solicitors if you want the "fee-free" deal. Contact the mortgage company and ask if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Water Orton.
We are buying a apartment in Water Orton. I might seem paranoid but how we can trust a solicitor? At some point we have to send our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Water Orton solicitor practices on the Kent Reliance conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be overseen by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
I am selling my house. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Aldermore are being difficult. The Water Orton solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Water Orton differ for new build properties?
Most buyers of new build residence in Water Orton approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Water Orton tend to purchase 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 conveyancers 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 Water Orton or who has acted in the same development.
I am searching for a dependable conveyancing solicitor in Water Orton to buy a house. I really don't want to get ripped off but with various Water Orton conveyancing practices to pick from...how do I know which one is best to select?
If you’ve not instructed a solicitor before, a trustworthy recommendation through relatives or friends is a great place to start and is often the best barometer of quality. As an alternative option, consult the Law Society’s regional list of solicitors in Water Orton or use our search tool to choose a conveyancing lawyer in Water Orton.