Unfortunately I am unable to travel far from Swanage. Is there a reason why all Swanage property lawyers are not on all bank panels?
Banks normally restrict either the type or volume of conveyancing firms on their panel. A common example of such restriction(s) being that a firm is required to have at least two partners. In addition to restricting the structure of firm, some banks for instance HSBC decided to restrict the number of practices they permit to act for them. It is worth noting that mortgage companies have no accountability for the quality of conveyancing provided by any Swanage lawyer on their panel. Increases in mortgage fraud was the key driver in the reduction of conveyancing panels from 2008 notwithstanding that there are contrary opinions about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of conveyancing firms only transact less than three conveyances annually. Those advocating conveyancing panel cuts ask why law firms deserve the right to remain on a lender panel when it is evident that property law is not their speciality?
I have an AIP. The lender mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather appoint a local conveyancing solicitor in Swanage?
Do check but the chances are that allocate you one of their panel lawyers if you take up the "fee-free" incentive. Speak to the mortgage company and explore if they make available a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Swanage.
The formalities of my purchase has taken place for my property in Swanage. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
It is unclear whether my lender requires a lease extension. I have called my Swanage bank branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Swanage conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your conveyancer has to follow the CML Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
After weeks of negotiation I have agreed a price on an apartment in Swanage. My mortgage broker pressured me to appoint their conveyancer. I paid an upfront payment of £175. A couple of days later, the property lawyer called me sheepishly admitting that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Swanage differ for newly converted properties?
Most buyers of new build property in Swanage approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Swanage typically purchase 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 used to new build conveyancing in Swanage or who has acted in the same development.
I am looking into buying my first house which is in Swanage and I am already nervous. I couldn't find anything specific about Swanage. Conveyancing will be needed in due course but do you know about the Swanage area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Swanage. In the meantime here are some basic statistics that we found