Me and my partner are buying a 1 bedroom flat in Petersfield with a mortgage. We would like to retain our Petersfield conveyancer, but the mortgage company advise he's not on their "panel". It appears that we have little option but to use one of the lender panel firms or retain our Petersfield lawyer and pay for one of their panel ones to act for them. We regard this is inequitable; are we not able to demand that the mortgage company use our Petersfield property lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your Petersfield conveyancing solicitor to apply to be on the conveyancing panel.
We are purchasing a 3 bedroom flat in Petersfield with a loan from Clydesdale.We use our Petersfield conveyancing practitioner but Clydesdale informed us she’s not listed on their approved list of firms. we are left little option but to use a Clydesdale panel firm or keep our high street solicitor and fork out for a Clydesdale panel lawyer to represent them. This seems very unfair; Can we not simply insist that Clydesdale use our lawyer?
No, not really. The mortgage issued to you contains various provisions, a common one being that lawyers will be on the Clydesdale approved list. 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 solicitors to apply to be on the conveyancing panel for Clydesdale
Will our solicitor be making enquiries concerning flooding during the conveyancing in Petersfield.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Petersfield. Plenty of people will buy a house in Petersfield, fully aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a numerous checks that can be undertaken by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Petersfield. The conventional set of property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the seller to discover if the property has ever been flooded. If the premises has been flooded in past which is not revealed by the vendor, then a buyer may issue a claim for damages stemming from an inaccurate answer. A buyer’s conveyancers will also conduct an environmental report. This will indicate whether there is a recorded flood risk. If so, further inquiries should be conducted.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Petersfield?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Petersfield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Am I better off to appoint a Petersfield conveyancing lawyer who is local to the property I am hoping to buy? An old friend can deal with the conveyancing but his firm is located over three hundred miles drive away.
The primary upside of using a high street Petersfield conveyancing firm is that you can drop in to sign documents, present your ID and pester them if necessary. Having local Petersfield know how is a benefit. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and on the whole were impressed that should outweigh using an unfamiliar Petersfield conveyancing solicitor solely due to them being Petersfield based.