we are a couple who wish to acquire a newbuild flat in Bourne End with a mortgage from Platform Home Loans Ltd.We like our Bourne End conveyancing lawyer but Platform Home Loans Ltd informed us her practice is not on their approved list of firms. It seems we have little choice but to instruct a Platform Home Loans Ltd panel firm or keep our preferred solicitor and fork out for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan issued to you is subject to its various provisions, a common one being that solicitors must be on the Platform Home Loans Ltd approved list. Until recently, most lenders had large numbers of solicitors 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Platform Home Loans Ltd
Can I be sure that the Bourne End conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Bourne End getting recommendations is a sensible 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 advertising the lowest fees. We would always advise that you speak with the lawyer carrying out your conveyancing.
It is unclear whether my bank requires a lease extension. I have telephoned my Bourne End bank branch on numerous occasions and was advised it wasn't an issue and they will lend. My Bourne End conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
The property lawyer must comply with the CML Handbook Part 2 conditions 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 left on the lease.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bourne End solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Bourne End postcode. As you are getting a mortgage with Lloyds, you could contact them to see if they have a list of approved surveyors in Bourne End.
How does conveyancing in Bourne End differ for newly converted properties?
Most buyers of new build premises in Bourne End come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Bourne End usually buy 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 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 Bourne End or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Bourne End is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bourne End are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bourne End you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bourne End may ascertain 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 premises.
Am I better off to appoint a Bourne End conveyancing solicitor based in the vicinity that I am hoping to buy? An old friend can handle the legal work however they are based a couple of hundredkilometers away.
The primary upside of using a high street Bourne End conveyancing practice is that you can attend the office to execute paperwork, hand in your identification documents and pester them where appropriate. They will also have local insight which is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and in the main were content that should outweigh using an unfamiliar Bourne End conveyancing solicitor solely due to them being based in the area.