I plan on buying property in Lynmouth. My lawyer has never been on on the lender solicitor panel. Am I still permitted to use my Lynmouth conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
You will need to use a conveyancing practitioner to deal with the formalities if you take out a mortgage to buy your home. The conveyancing practitioner will carry out all the essential due diligence on the property, ensuring that you’re registered as proprietor and ensure that all the necessary mortgage paperwork is in order. You can instruct a Lynmouth conveyancing practitioner of your choosing. Nevertheless, if the conveyancer selected is not a member of the mortgage company conveyancing panel further charges will be levied as separate legal representation will be required by them. Bank panel applications can be submitted, so where your conveyancer has not previously sought membership they should take the chance to apply.
We decided to purchase a purpose built apartment in Lynmouth with a homeloan from Santander.We have a Lynmouth conveyancing lawyer but Santander advised that she’s not on their approved list of firms. we are left little option but to use a Santander panel lawyer or keep our high street solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you contains terms and conditions, a common one being that solicitors needs to be on the Santander approved list. in the past, most banks 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Santander
Various internet forums that I have visited warn that are the main cause of stalling in Lynmouth house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Lynmouth.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Lynmouth is the location of the property. What do you suggest?
Flying freeholds in Lynmouth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lynmouth you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lynmouth may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I note that you have a search directory listing law firms on the lender conveyancing panel. Do Lynmouth conveyancing companies pay you a referral fee if I appoint them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Lynmouth.