We wish to acquire a newbuild flat in Portland with a mortgage from Bank of Scotland.We like our Portland conveyancing practitioner but Bank of Scotland advised that he's not on their approved list of member firms. we are left little option but to use a Bank of Scotland panel firm or keep our high street solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Bank of Scotland use our lawyer?
Unfortunately,no. The mortgage offered to you contains terms and conditions, a common one being that conveyancers must be on the Bank of Scotland approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 Bank of Scotland
A friend advised me that in buying a property in Portland there may be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of anumerous of properties in Portland which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Portland should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Portland Conveyancing Quality Solicitors on the Barclays conveyancing list of approved practices?
A selection of banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I am selling my apartment. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, TSB are being a right pain. The Portland solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I need some expedited conveyancing in Portland as I am faced with an ultimatum to sign on the dotted line within 4 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at free not to have searches conducted although no lawyer would suggest that you don't. With lots of history conveyancing in Portland the following are instances of issues that can arise and adversely impact market value: Enforcement Actions, Overdue Fees, Overdue Grants, Unadopted Roads,...
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Portland is where the house is located. Can you shed any light on this issue?
Flying freeholds in Portland are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Portland 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 Portland 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 property.
Am I right to be concerned that 3rd parties that I am dealing with are encouraging me to use a web based conveyancing firm rather than a local Portland conveyancing practice?
As with lots of service providers, often recommendations from family and friends can be worth their weight in gold. Yet there are numerous people with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders may suggest lawyers to retain. Sometimes these solicitors might be known to one of the organisations as being good in their field, but sometimes there behind the scenes financial incentive behind the recommendation. You are free to choose your own conveyancer. However, bear in mind that many lenders operate an approved list of lawyers you are obliged to use for the lender related work in your conveyancing.