Me and my fiance are acquiring an apartment in Clevedon. My property lawyer is not on the mortgage company approved panel. Am I still permitted to continue with my Clevedon conveyancing solicitor notwithstanding that they are excluded from the bank panel?
One must have a solicitor to deal with the formalities if you need a mortgage to buy your property. They will conduct all the relevant due diligence on the property, make sure that you will be properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. One could instruct a Clevedon lawyer of your choice. However, where the conveyancer selected is not a member of the lender conveyancing panel further fees will be levied as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so if your solicitor has not in the past sought membership they can do so.
My Clevedon solicitor has identified an inconsistency when comparing the assumptions in the valuation survey and what is in the legal papers for the property. My solicitor informs me that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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.
This question may be naive but I am new to the process as a first time purchaser of a ground floor flat in Clevedon. Do I pick up the keys to the house on completion from my lawyer? If so, I will appoint a local conveyancing solicitor in Clevedon?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the owner’s solicitors, and once they have received this, you will be invited to pick up the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
We had selected conveyancers locally in Clevedon on the Yorkshire BS solicitor approved list. They are now charging me a further charge for handling the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
Unfortunately, so long as it is in their Terms of Engagement or estimate then yes your conveyancer can levy a fee for this. This fee is not set by Yorkshire BS but by your Clevedon conveyancing practitioner. Numerous firms on the Yorkshire BS panel will charge an ‘acting for lender’ fee and others do not.
The formalities of my purchase has taken place for my property in Clevedon. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Clevedon is the location of the property. What do you suggest?
Flying freeholds in Clevedon are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Clevedon you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Clevedon may determine 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 property.
Do I need to be wary about brokers that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a local Clevedon conveyancing practice?
As with many professional services, often input from family and friends can be most helpful. But there are numerous players in a conveyancing matter; estate agents, mortgage brokers and banks might all put forward solicitors to retain. On occasion these conveyancers might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the endorsement. You are at liberty to appoint your preferred lawyer. Don't forget that the majority of banks specify a panel list of lawyers you are obliged to use for the lender aspect of your house move.