we are a couple who intend to purchase a newly converted apartment in Ferring with a mortgage from Skipton Building Society.We use our Ferring conveyancing practitioner but Skipton Building Society says he's not on their approved list of member firms. It seems we are left with little choice but to instruct a Skipton Building Society panel firm or retain our local solicitor and fork out for a Skipton Building Society panel lawyer to represent them. This seems very unfair; Can we not simply insist that Skipton Building Society use our lawyer?
Unfortunately,no. The mortgage issued to you contains terms and conditions, a common one being that solicitors must be on the Skipton Building Society approved list. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Skipton Building Society
is it true that all Ferring solicitor firms on the TSB conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some lenders do list licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
We had instructed conveyancing lawyers based in Ferring on the Barclays solicitor approved list. They have just invoiced me a separate sum for the legal aspects of the Barclays mortgage. Is this a supplemental conveyancing fee set by Barclays?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner may levy a fee for this. The charge is not dictated by Barclays but by your Ferring property lawyer. Numerous firms on the Barclays panel will charge ’dealing with mortgage’ fee and others do not.
I am purchasing a property in Ferring. An unusual aspect is that the roof has a solar panel. Co-operative have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Co-operative your lawyer must follow the formal instructions contained in Part 2 of UK Finance Lenders’ Handbook for Co-operative. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Co-operative where a lease fails to comply with these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Ferring.
How does conveyancing in Ferring differ for newly converted properties?
Most buyers of new build or newly converted property in Ferring contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Ferring typically buy 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 accustomed to new build conveyancing in Ferring or who has acted in the same development.
I need to appoint a conveyancing solicitor for residential conveyancing in Ferring. I've chance upon a web site which looks to be the perfect offering If there is a chance to get all formalities completed via phone that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
We recently discovered that one of the partners of the solicitors undertaking the purchase conveyancing in Ferring is a relative of the vendor. Is this allowed?
As long as there is no conflict of interest this should be fine. Where you are needing a mortgage then the mortgage company may have a say as many lenders have specific requirements on this. For example for HSBC as of 2/2/2019, the requirements read as follows :