We were just about to exchange contracts for a ground floor flat in Teignmouth. We have hit a snag. Our mortgage offer with The Mortgage Works runs out on 11/4/2019 but the sellers are putting forward a completion date of 15/4/2019. Can one prolong the loan expiry date?
The best person to address this question is your solicitors who will hopefully assess whether they should be discussing with the bank, vendor’s lawyers, property agents or possibly all parties given the circumstances your house move to date.
My husband and I are buying a newbuild apartment in Teignmouth with a homeloan from Norwich and Peterborough Building Society.We would like to retain our Teignmouth conveyancing solicitor but Norwich and Peterborough Building Society informed us she’s not on their "panel". It seems we have no choice but to instruct a Norwich and Peterborough Building Society panel firm or retain our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Norwich and Peterborough Building Society use our lawyer?
Unfortunately,no. The loan offered to you is subject to its various provisions, a common one being that solicitors needs to be on the Norwich and Peterborough Building Society approved list. in the past, most lenders had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for Norwich and Peterborough Building Society
A colleague recommended that if I am buying in Teignmouth I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Teignmouth conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Teignmouth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Teignmouth Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Teignmouth.
Do I need to be wary that brokers that I am dealing with are suggesting an internet conveyancing firm rather than a local Teignmouth conveyancing practice?
As with lots of professional services, often suggestions from relatives can be worth their weight in gold. Yet there are many players in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all suggest conveyancers to select. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the endorsement. You have the right to select your preferred lawyer. However, bear in mind that most lenders specify a panel list of law firms you are obliged to use for the mortgage aspect of your conveyancing.
I need to instruct a conveyancing solicitor for sale conveyancing in Teignmouth. I have chance upon a site which looks to be the perfect answer If there is a chance to get all the legals done via phone that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?