We are planning to buy a 2 bedroom apartment in Plymouth with a mortgage. We like our Plymouth solicitor, however the bank advise he's not on their "panel". It seems we have no choice but to select one of the lender panel conveyancing practices or keep our Plymouth property lawyer as well as pay for one of their panel ones to act for them. We consider that this is unjust; is there anything we can do?
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 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. Another option that might be available is for your Plymouth conveyancing solicitor to apply to be on the conveyancing panel.
Having spent time researching moneysavingexpert.com for a cheap solicitor in Plymouth, many say that I should use a CQS accredited lawyer. What is CQS?
Plymouth Conveyancing Quality Scheme law firms have been granted certification under the Law Society's Scheme (CQS) CQS was created to promote high standards in the home legal process. CQS enables consumers to identify practices who provide a quality residential conveyancing. Plymouth is one of the many areas in England and Wales in which CQS are located. The conveyancing scheme obliges solicitors to undergo a strict assessment, compulsory training, self-certification, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Building Societies Association.
Should our solicitor be making enquiries concerning flooding during the conveyancing in Plymouth.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Plymouth. There are those who acquire a property in Plymouth, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that may be initiated by the buyer or by their lawyers which will give them a better understanding of the risks in Plymouth. The standard information given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to determine if the property has ever been flooded. In the event that the premises has been flooded in past which is not notified by the vendor, then a buyer may bring a compensation claim as a result of such an incorrect reply. The purchaser’s lawyers should also carry out an enviro report. This should higlight whether there is a recorded flood risk. If so, more detailed investigations should be made.
Due to the advice of my in-laws I had a survey completed on a property in Plymouth in advance of appointing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some lenders tend refuse to give a mortgage on this type of 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 relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Plymouth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Plymouth to see if the conveyancing will be more expensive.
My lawyers in Plymouth have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the bank directly.