Much to our surprise we have been notified by our IFA that my Eye the law firm I have appointed is not on the bank Conveyancing panel. How can I be sure if this is correct?
The first thing you need to do is to contact your Eye lawyer directly. You lawyer should inform you of the situation. Where they are not on the panel they may be able to suggest a Eye conveyancing firm that is on the approved list of lawyers for your mortgage company.
Do banks and building societies provide you with an approved list of Eye conveyancing solicitors? How do you know who is on the UBS conveyancing panel?
Eye conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
I am being told by my solicitor that absentee landlord insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Eye?
The right level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Accord Mortgages Ltd and The Royal Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such insurances.
We previously selected solicitors locally in Eye on the Yorkshire BS solicitor approved list. They are now charging me an additional charge for dealing with the Yorkshire BS mortgage. Is this an additional conveyancing fee specified by Yorkshire BS?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancer can charge a fee for this. The fee is not set by Yorkshire BS but by your Eye solicitor. Plenty of firms on the Yorkshire BS panel will levy ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
I recently had an offer agreed on a house in Eye. My financial adviser recommended their conveyancers. I paid an upfront payment of £225. Not long after, the conveyancer contacted me sheepishly admitting that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Eye differ for new build properties?
Most buyers of new build or newly converted property in Eye come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is finished. This is because builders in Eye tend to purchase the site, 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 property lawyers 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 Eye or who has acted in the same development.
Taking into account that I am about to spend over three hundred thousand on a two bedroom apartment in Eye I would like to have a conversation with the lawyer concerning thehouse move before appointing the firm. Is this something that you can arrange?
This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you first talking to the conveyancer who will be conducting your property ownership legalities in Eye.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter reference. The law firms that we put you in touch with believe that the fees you are quoted for your conveyancing in Eye should be the figure that you are charged.