I am hoping to receive a mortgage with Nat West. I would like to employ the services of a Licensed Conveyancer in Templecombe. Does the Nat West Solicitor panel include conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Our conveyancer has discovered a a problem with the lease for the flat we are buying in Templecombe. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that he must check that the bank is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
Do I need to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Templecombe so that I can attend their offices if necessary.
Whereas this was necessary 12 years ago, the vast majority banks no longer need their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID documents and there are still distinct benefits to using a local ayer, in your situation a conveyancing solicitor in Templecombe.
How does conveyancing in Templecombe differ for newly converted properties?
Most buyers of new build residence in Templecombe contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Templecombe typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Templecombe or who has acted in the same development.
Is it simple use your search tool to get a quote from a conveyancing lawyer in Templecombe on the panel for my mortgage?
First pick a mortgage company such as Nationwide Building Society, Virgin Money or Nottingham Building Society then choose your location such as Templecombe. Conveyancing organisations in Templecombe and further afield should be identified.