My fiance and I are looking to purchase a home in Manselton and are in fact using a Manselton conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Platform Home Loans Ltd have this morning contacted us to inform me that they have now hit a problem as our Manselton conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. 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 Accreditation Scheme. Your property lawyer 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Manselton lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My house in Manselton is up for sale and I have accepted an offer. Will my conveyancer have to be on the Aldermore conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
How does conveyancing in Manselton differ for newly converted properties?
Most buyers of new build residence in Manselton approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Manselton tend to acquire the land, 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 used to new build conveyancing in Manselton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Manselton is where the house is located. Is there any advice you can give?
Flying freeholds in Manselton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Manselton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Manselton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Taking into account that I am about to part with over three hundred thousand on a garden flat in Manselton I would like to talk to a lawyer concerning thehome move in advance of instructing the firm. Can this be arranged?
Absolutely - we would be happy to talk to you we do not take any clients on without you liaising with the lawyer due to be carrying out your conveyancing in Manselton.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Manselton should be the amount on the final invoice that you end up paying.