We are purchasing a 3 bedroom flat in Verwood with a mortgage. We have a Verwood solicitor, but the bank says she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Verwood property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; can we not insist that the bank use our Verwood solicitor ?
No, not really. 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. Another option that might be available is for your Verwood conveyancing solicitor to apply to be on the conveyancing panel.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Verwood. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 1/5/2024, the requirements read as follows :
I am assisting my sister sell her house in Verwood. Will the conveyancing solicitor arrange the energy assessment or do I organise this?
Following the demise of Home Packs, energy performance certificates was left as a mandatory component of moving house. An EPC should be to hand before the property is marketed. This is not as aspect of the sale process that solicitors ordinarily organise. If you are using a Verwood conveyancing solicitor they may help arrange energy assessments given their relationships with reputable Verwood accredited person
My bid for a property was accepted at auction in Verwood. Conveyancing is necessary. What are my next steps?
Given that you have now to in every practical sense signed on the dotted line you will need to retain a conveyancing practitioner as a matter of urgency as you will have a pending a fixed date to complete the property. Every auction property will have a bespoke auction set of papers. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to leasehold premises. You must hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that you have funds in order to complete on the date specified in the contract.
Can I be sure that the Verwood conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Verwood getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your transaction.
A relative recommended that if I am purchasing in Verwood I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Verwood conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Verwood around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Verwood Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Verwood Education with plans and statistics, Local Amenities and other useful information regarding Verwood.
I have been on the look out for a ground for flat up to £235,500 and identified one round the corner in Verwood I like with a park and railway links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Verwood suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will likely be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years 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 term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.