We are purchasing a 1 bedroom flat in Monmouth with a mortgage. We like our Monmouth lawyer, but the mortgage company says he's not on their "panel". It appears that we have little option but to use one of the lender panel solicitors or retain our Monmouth lawyer as well as pay for one of their panel firms to act for them. This feels very unfair; can we not insist that the bank use our Monmouth conveyancer ?
No, not really. 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. Another option that might be available is for your Monmouth conveyancing solicitor to apply to be on the conveyancing panel.
Our Monmouth solicitor has spotted a discrepancy when comparing the information in the valuation report and what is revealed within the title deeds. My lawyer says that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s course or action right?
Your property lawyer 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.
I require fast conveyancing in Monmouth as I am faced with a deadline to exchange contracts within one month. A home loan is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a cash buyer you have the choice not to have searches conducted although no law firm would recommend that you don't. With plenty of history conveyancing in Monmouth the following are instances of issues that can crop up and therefore affect the marketability of the property: Enforcement Actions, Overdue Charges, Overdue Grants, Railway Schemes,...
My partner has urged me to instruct his conveyancing solicitors in Monmouth. Should I use them?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to seek referrals from friends or relatives who have previously instructed the firm you're contemplating using.
Finally our conveyancing in Monmouth completes this Friday, however the sellers I am buying from wishes to vacate the next day at afternoon. Do I agree to this?
It is not possible to complete on a Saturday because the bank systems are not operational.