We wanted to use a conveyancing solicitor in Perranporth for our home move. Our financial adviser informed us that our mortgage lenders Coventry Building Society won't deal with them. Surely this is unfair competition?
Banks ordinarily restrict either the type or the volume of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the profile of firm, some have reduced the amount of firms they allow to act for them. Be aware that Coventry Building Society have no responsibility for the quality of advice provided by any member of Coventry Building Society Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels a few years ago even though there remains mixed views regarding the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that thousands of law firms, including some in or near Perranporth only conduct a couple conveyances a year.
How does conveyancing in Perranporth differ for newly converted properties?
Most buyers of new build residence in Perranporth approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Perranporth usually acquire the real estate, 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 conveyancing solicitors 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 Perranporth or who has acted in the same development.
I decided to have a survey carried out on a house in Perranporth prior to retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies may not grant a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Perranporth. Conveyancing will be smoother if you use a solicitor in Perranporth especially if they regularly deal with such properties in Perranporth.
Am I right to be wary by estate agents that I am dealing with are encouraging me to use an online conveyancing firm rather than a High Street Perranporth conveyancing firm?
As with many service providers, often recommendations from connections can be worth their weight in gold. Nevertheless there are many players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all put forward conveyancers to retain. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but sometimes there might be a commercial relationship behind the recommendation. You are at liberty to select your preferred lawyer. You need to be aware that some mortgage providers operate an approved list of solicitors you are obliged to use for the lender related work in your conveyancing.
A loan agreement from a bank for the remortgage of my 2 bedroom maisonette is due any day now. Could you suggest a cheap remortgage conveyancing solicitor in Perranporth ?
You have come to the wrong place to search for a cheap conveyancing in Perranporth. We can offer you cost effective conveyancing but we do not work with the cheapest lawyers. Do not be fooled by companies offering low cost conveyancing in Perranporth.At best, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up paying a lot in additional fee and still not get the service required.