My husband and I intend to purchase a newbuild apartment in Darlington with a mortgage from Bank of Scotland.We like our Darlington conveyancing solicitor but Bank of Scotland advised that his firm is not listed on their "panel". we are left little option but to use a Bank of Scotland panel lawyer or retain our preferred solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Bank of Scotland use our lawyer?
No, not really. The loan issued to you contains terms and conditions, one of which will be that solicitors must be on the Bank of Scotland approved list. Until recently, most mortgage companies 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 Bank of Scotland
Will my conveyancer be asking questions about flooding as part of the conveyancing in Darlington.
The risk of flooding is if increasing concern for solicitors dealing with homes in Darlington. There are those who acquire a property in Darlington, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a various searches that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Darlington. The standard information supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to find out if the premises has suffered from flooding. In the event that the residence has been flooded in past which is not revealed by the owner, then a purchaser could bring a compensation claim as a result of such an misleading reply. The purchaser’s conveyancers will also conduct an enviro search. This will reveal if there is a recorded flood risk. If so, more detailed investigations should be made.
Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who conducted the conveyancing in Darlington 10 years ago have long since closed. What are my options?
In today’s world there are copies made of almost everything, and your conveyancer should be aware precisely where to locate all the relevant paperwork so you can buy or dispose of your property without a hitch. Where copies can’t be located, your solicitor may be able to put in place insurance or indemnities protecting you against future claims on your property.
I decided to have a survey done on a house in Darlington before instructing lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies may not issue a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Darlington. Conveyancing may be slightly more expensive based on your lender's requirements.
What is the reason for new build conveyancing in Darlington being more expensive?
Acquiring a new build premises is significantly different from the normal house buying conveyancing in Darlington. For a start developers normally need contracts to exchange very quickly, so there is a lot of pressure on your conveyancer to make sure all is in order. In addition new build properties frequently involve the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Bank requirements are also more demanding. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.