My wife and I are buying a 3 bedroom apartment in Whitland with a mortgage. We have a Whitland conveyancer, but the lender says she’s not on their "panel". It seems we have little choice but to appoint one of the mortgage company panel conveyancing practices or retain our Whitland property lawyer and pay for one of their panel ones to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. 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. A further alternative is for your Whitland conveyancing lawyer to apply to be on the conveyancing panel.
I am in a contract race with another prospective purchaser for a property in Whitland. What can I do to speed up the conveyancing process?
First, If you are under pressure for your conveyancing we would recommend that your solicitor is familiar with the area as they will benefit local contacts and insight. It is possible that they may have conducted otherhouses in the same road. You would be best advised to use a Whitland conveyancing firm. Second, make sure that the conveyancing firm is on the lender panel. It is understood that just under twenty per cent of Whitland conveyancing deals are frustrated or jeopardised after discovering a buyer’s solicitor was not on their banks panel. This can often result in the transaction being frustrated by as much as 21 days. It is believed that this issue affects in the region of 100,000 home sales annually. Almost all Whitland conveyancing firms can not act for certain mortgage companies so do check as early as possible.
I am selling our home in Whitland and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A high street Whitland lawyer would know that there is no such problem. It does beg the question why the purchasers used a national conveyancing outfit as opposed to a conveyancing solicitor in Whitland. We have lived in Whitland for three years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You should enquire of 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)
How does conveyancing in Whitland differ for new build properties?
Most buyers of new build residence in Whitland approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Whitland tend to 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 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 Whitland or who has acted in the same development.
I decided to have a survey done on a property in Whitland before instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies tend refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Whitland. Conveyancing may be slightly more expensive based on your lender's requirements.
We're new on the property ladder - agreed a price, yet the property agent has warned us that the owners will only proceed if we instruct their preferred lawyers as they want an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Whitland
It is improbable the vendors are driving this. If they require ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your own,trusted Whitland conveyancing solicitors - as opposed tothe ones that will earn the negotiator at the agency a commission or achieve conveyancing figures set by head office.