I plan on acquiring a ground floor flat in Swanage. My property lawyer is not listed on the lender approved list. Am I still permitted to continue with my Swanage conveyancing solicitor even though they are not on the mortgage company approved list?
One will need to appoint a solicitor to complete the legal work required when you need a loan to buy your property. They will conduct all the essential due diligence on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage documentation is in place. One can instruct a Swanage property lawyer of your choice. Nevertheless, if the property lawyer selected is not on the bank solicitor panel additional costs will arise as separate legal representation will be required by them. Bank panel applications can be submitted, so where your solicitor has not historically sought membership they should take the chance to apply.
We are nearing an exchange on a flat in Swanage and my mum and dad have sent the 10% deposit to my conveyancer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is duty bound to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
As someone unfamiliar with conveyancing in Swanage what’s your top tip you can give me concerning the ownership transfer in Swanage
You may not hear this from too many lawyers but conveyancing in Swanage or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there is an abundance of opportunity for conflict between you and other parties involved in the house moving process. For instance, the seller, property agent and even potentially a bank. Selecting a solicitor for your conveyancing in Swanage an important selection as your conveyancer is your adviser, and is the ONLY person in the process whose role it is to look after your best interests and to keep you safe.
Every so often a third party with a vested interest will attempt to persuade you that it is in your interests to do things their way. For example, the estate agent may claim to be helping by claiming that your conveyancer is wrong. Or your financial adviser may advise you to do take action that is contrary to your lawyers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Are there restrictive covenants that are commonly picked up during conveyancing in Swanage?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Swanage. 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…’
We are 17 days into a freehold purchase having been directed to solicitors by the high street agent to carry out the conveyancing in Swanage. I am not happy. Can you help me find new lawyers?
A lawyer would need to be really poor in order to consider changing them. Has the loan offer been issued? In the event that it has you must advise them of the new conveyancer and ensure the mortgage documents are re-issued. The solicitor ideally should be on the banks approved list to avoid added costs and complications. So that should be your first question of the new conveyancers. The find a solicitor tool can help you find a lender approved solicitor for your home move in Swanage