Me and my partner are purchasing a 3 bedroom flat in Deal with a mortgage. We like our Deal conveyancer, but the mortgage company says she’s not on their "panel". It appears that we have no choice but to select one of the mortgage company panel solicitors or continue with our Deal lawyer as well as pay for one of their panel firms to act for them. We consider that this is inequitable; are we not able to require that the bank use our Deal lawyer ?
Unfortunately,no. 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 Deal conveyancing lawyer to apply to be on the conveyancing panel.
Will conveyancers ask for an advanced payment for my conveyancing in Deal?
If you are buying a property in Deal your lawyer will ask you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the sale price then this should be required immediately prior to contracts are exchanged. The closing balance that is due should be sent to your lawyer shortly before completion.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when purchasing a property in Deal? or Apparently there is a law dating back centuries that means some homeowners living in a parish church boundary may be liable to contribute towards maintenance to the chancel within the church. Is this suitable for conveyancing in Deal?
Unless a prior acquisition of the property completed post 12 October 2013 you may assume that conveyancing practitioners carrying out conveyancing in Deal to continue to advocate a chancel search and or chancel repair liability insurance.
How does conveyancing in Deal differ for new build properties?
Most buyers of new build premises in Deal come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Deal 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 accustomed to new build conveyancing in Deal or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Deal ahead of retaining conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies will not grant a loan on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Deal. Conveyancing will be smoother if you use a solicitor in Deal especially if they are familiar with such properties in Deal.