My husband and I are purchasing a 2 bedroom flat in Port Isaac with a mortgage. We like our Port Isaac conveyancer, however the lender advise he's not on their "panel". It appears that we have no option but to instruct one of the bank panel firms or keep our Port Isaac lawyer as well as pay for one of their panel firms to act for them. We regard this is unjust; is there anything we can do?
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. Another option that might be available is for your Port Isaac conveyancing solicitor to apply to be on the conveyancing panel.
My bank has suggested a law firm on their panel based in Port Isaac but I would rather instruct a conveyancing lawyer in Port Isaac round the corner to me. Can you help?
The minority of Port Isaac conveyancing practitioners are listed all lender’s conveyancing panel. Use the above find an approved solicitor tool to locate a Port Isaac conveyancing solicitor on the on the bank panel.
I am selling our home in Port Isaac and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A high street Port Isaac conveyancer would know this is not the case. It does beg the question why the purchasers are using a nationwide conveyancing practice rather than a conveyancing solicitor in Port Isaac. We have lived in Port Isaac for six years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Port Isaac is the location of the property. What do you suggest?
Flying freeholds in Port Isaac are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Port Isaac you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Port Isaac may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Do I need to be suspicious about 3rd parties that I am dealing with are recommending a web based conveyancing firm rather than a High Street Port Isaac conveyancing firm?
As with many professional services, often referrals from connections can be worth their weight in gold. Yet there are lots of people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend solicitors to use. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there might be a financial incentive behind the endorsement. You are at liberty to choose your preferred conveyancer. Don't forget that the majority of mortgage providers specify a panel list of solicitors you must use for the mortgage related work in your home move.