Me and my partner are buying a 2 bedroom flat in Bourton on the Water with a mortgage. We have a Bourton on the Water solicitor, however the bank advise he's not on their "panel". It seems we have no option but to appoint one of the lender panel firms or continue with our Bourton on the Water property lawyer as well as pay for one of their panel lawyers to act for them. We regard this is inequitable; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. A further alternative is for your Bourton on the Water conveyancing lawyer to apply to be on the conveyancing panel.
There are a variety of conveyancing solicitors in Bourton on the Water but how do I know who I should use?
Do not opt for the lowest Bourton on the Water conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
I am buying a property in Bourton on the Water. An unusual aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is RBS your lawyer must follow the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for RBS. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to RBS where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties countrywide and is not isolated to Bourton on the Water.
About to purchase flat in Bourton on the Water. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bourton on the Water lawyer is on the Barclays conveyancing panel.
Various online forums that I have come across warn that are the primary reason for hinderance in Bourton on the Water house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Bourton on the Water.
I have justbecome aware that Stirling Law have been shut down. They carried out my conveyancing in Bourton on the Water for a purchase of a freehold house 10 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bourton on the Water conveyancing specialists.
Due to the input of my in-laws I had a survey completed on a house in Bourton on the Water before retaining lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies will not issue a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bourton on the Water. Conveyancing may be slightly more expensive based on your lender's requirements.