We are buying a 2 bedroom flat in Devon with a mortgage. We like our Devon solicitor, however the bank advise he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Devon lawyer as well as pay for one of their panel firms to act for them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer 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 Devon conveyancing lawyer to apply to be on the conveyancing panel.
The Devon conveyancing firm handling our Devon conveyancing has spotted a difference between the information in the home valuation survey and what is revealed within the title deeds. My lawyer informs me that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements 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 both parties.
we are a couple who wish to acquire a 2 bedroom flat in Devon with a homeloan from Santander.We use our Devon conveyancing lawyer but Santander says her practice is not on their "panel". It seems we have little choice but to instruct a Santander panel solicitor or keep our preferred solicitor and pay for a Santander panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Santander use our lawyer?
Unfortunately,no. The home loan offered to you is subject to its terms and conditions, one of which will be that conveyancers will be on the Santander 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 Santander
How does conveyancing in Devon differ for new build properties?
Most buyers of new build premises in Devon approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Devon typically 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 Devon or who has acted in the same development.
My husband and I are FTB’s - had an offer accepted, but the agent told us that the seller will only go ahead if we appoint their recommended conveyancers as they want an ‘expedited deal’. We would rather use a family solicitor used to conveyancing in Devon
It is highly unlikely the vendors are driving this. Should the seller want ‘a quick sale', turning down a motivated purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you are going to appoint your preferred Devon conveyancing solicitors - not the ones that will earn the estate agent a commission or hit his conveyancing figures pre-set by HQ.