Our solicitor has identified a a legal deficiency with the lease for the flat we are buying in Angmering. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer says that he must be satisfied that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We note that you have a post code search directory identifying solicitors on the Clydesdale conveyancing panel. Do companies pay you a referral fee if I appoint them for our conveyancing in Angmering?
We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Angmering.
My wife and I have recently appointed a conveyancing solicitor in Angmering. I I would like to check if they are accepted on the National Westminster Bank approved list of lawyers. Can you or the lender confirm if they are on the panel?
You should phone your conveyancer and enquire if they can act for the lender. Alternatively you can get in touch with National Westminster Bank who may be able to confirm.
How does conveyancing in Angmering differ for new build properties?
Most buyers of new build or newly converted property in Angmering contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Angmering typically 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 property lawyers 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 Angmering or who has acted in the same development.
Our bank agreed in principle to grant us a mortgage. We instructed a local conveyancer in Angmering last week. Today, our financial adviser called to say that the bank said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we did not have a clue that the mortgage company had some control over our choice Is this allowed?
You can actually instruct any conveyancing solicitor you prefer to instruct including the said conveyancer in Angmering nevertheless if they are not on the your lender's panel you would have to fork out additional cost so the mortgage company can appoint their own conveyancer too. On occasion it is conceivable that your solicitor may apply to get added to the mortgage company panel. Do make the most of online search facilities such as lenderpanel.com to find a conveyancing solcitor in Angmering on the mortgage company panel. You can go into your local mortgage company branch in Angmering. They can recommend conveyancing solicitors in Angmering on the panel for your mortgage company.