My wife and I are intending to purchase a 2 bedroom apartment in Poole with a mortgage. We have a Poole lawyer, however the lender advise he's not on their "panel". It appears that we have little option but to instruct one of the lender panel solicitors or keep our Poole solicitor as well as pay for one of their panel firms to act for them. We feel 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. A further alternative is for your Poole conveyancing solicitor to apply to be on the conveyancing panel.
My brother and I have just purchased a house in Poole. We have since encountered a number of problems with the house which we suspect were missed in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that needed to have been conducted for conveyancing in Poole?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Poole. Conveyancing searches and due diligence undertaken as part of the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, a seller answers a document called a SPIF. answers is incorrect, you may have a misrepresentation claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Poole.
My wife and I are buying a apartment in Poole. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to put our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Are all Poole Conveyancing Quality Solicitors on the HSBC conveyancing panel?
Some major banks and building societies now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
Last month we had a mortgage agreed in principle with Virgin Money. Poole conveyancing lawyers are instructed. How long does it take for Virgin Money to issue the offer to the property lawyer?
Some lenders take longer than others. Have Virgin Money done the valuation? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when buying a residence in Poole?
Unless a previous purchase of the premises took place after 12 October 2013 you can assume that lawyers carrying out conveyancing in Poole to remain recommending a chancel search and or insurance against a claim.
Over the last few months I have been searching for a flat up to £305k and identified one near me in Poole I like with a park and station nearby, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Poole for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.