We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather appoint a Nether Stowey based conveyancing firm?
Do check but the the probability is that appoint one of their panel solicitors should you take up the "fee-free" deal. Contact the lender and check if they make available a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Nether Stowey.
Does a directory service exist listing Co-operative panel solicitors in Nether Stowey on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the CML or Building Society Association websites. Very few lenders make their panel listings open the public online. If you are in need of a Nether Stowey solicitor on the Co-operative please make the most of our tool.
I am due to exchange contracts on my flat. I had a double glazing fitted in November 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being pedantic. The Nether Stowey solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Santander have agreed my mortgage in principle, my offer on a property in Nether Stowey has been accepted, what happens next?
Your property agent will need to be informed of your solicitor's details (ensure that the lawyers are on the bank’s approved list). Call up Santander or the broker and finalise any appropriate forms. Santander will sellect a valuer who will get in contact with the estate agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes approximately ten days to receive the mortgage offer. Santander will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Nether Stowey.
I have been told that property searches are the number one cause of hinderance in Nether Stowey house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Nether Stowey.
How does conveyancing in Nether Stowey differ for new build properties?
Most buyers of new build property in Nether Stowey contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Nether Stowey usually 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 accustomed to new build conveyancing in Nether Stowey or who has acted in the same development.
Should I instruct a Nether Stowey conveyancing practitioner in close proximity to the house I am purchasing? We have a good friend who can conduct the legal work but her office is 400kilometers drive away.
The benefit of a high street Nether Stowey conveyancing firm is that you can drop in to execute paperwork, present your identification documents and apply pressure on them where appropriate. Having local Nether Stowey know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were impressed that must trump using an unknown Nether Stowey conveyancing solicitor solely due to them being based in the area.