I plan on acquiring property in Babbacombe. My Solicitor is not on the lender solicitor panel. Am I still permitted to retain my Babbacombe conveyancing solicitor notwithstanding that they are excluded from the lender panel?
You will need to instruct a conveyancing practitioner to deal with the formalities if you need a mortgage to buy your home. They will carry out all the necessary due diligence on the property, ensuring that you’re properly registered as the owner and ensure that all the required mortgage documentation is in order. One may select a Babbacombe property lawyer of your choosing. However, where the solicitor appointed is not a member of the mortgage company approved list further charges will be levied as separate legal representation will be need by the mortgage company. Bank panel applications can be submitted, so provided your conveyancer has not in the past applied for membership they should take the opportunity to apply.
It is a dozen years since I purchased my home in Babbacombe. Conveyancing solicitors have just been instructed on the sale but I am unable to find the deeds. Is this a problem?
You need not be too concerned. First there is a chance that the deeds will be kept by your lender or they could be archived with the lawyers who handled the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Nearly all conveyancing in Babbacombe relates to registered property but in the unlikely event that your home is unregistered it is more problematic but is resolvable.
How simple is it to use your search facility to find a conveyancing lawyer in Babbacombe on the approved list for my mortgage?
1st select a bank such as Birmingham Midshires, Bank of Scotland or Clydesdale then specify your location a common one being Babbacombe. Conveyancing practices in Babbacombe and across England and Wales should be shown.
Am I best advised to use a Babbacombe conveyancing lawyer based in the location that I am buying? I have an old university friend who can deal with the legal formalities however his firm is located over three hundred miles drive away.
The benefit of a local Babbacombe conveyancing practice is that you can pop in to sign paperwork, hand in your identification documents and pester them if necessary. Having local Babbacombe know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were content that should outweigh using an unknown Babbacombe conveyancing solicitor just because they are based in the area.
I have miscalculated my finances and am a couple of grand short a 10% deposit on my apartment purchase in Babbacombe , but I still want to proceed. Do I have options?
One option is to try and agree a lesser deposit. Many property owners will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second