We are planning to buy a 3 bedroom apartment in Tisbury with a mortgage. We have a Tisbury lawyer, however the bank says she’s not on their "panel". It appears that we have little option but to appoint one of the bank panel solicitors or continue with our Tisbury conveyancer and pay for one of their panel lawyers to represent them. We regard this is unjust; is there anything we can do?
No, not really. 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 Tisbury conveyancing solicitor to apply to be on the conveyancing panel.
At what point does exchange of contracts take place for purchase conveyancing in Tisbury and am I required to be at the lawyers branch?
Where you are local to our conveyancing solicitors in Tisbury you are welcome to come in to sign contracts. That being said, the firms we recommend supply a nationwide conveyancing service and give just as comprehensive and professional a job for you when dealing with you electronically. The signing of the property agreement is not the point of no return. A signed contract is just a prerequisite for the firm to exchange contracts at the appropriate time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Tisbury)to be in the office at the appropriate time.
Should my lawyer be making enquiries regarding flooding as part of the conveyancing in Tisbury.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Tisbury. Some people will buy a property in Tisbury, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or by their conveyancers which should figure out the risks in Tisbury. The conventional set of property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to discover whether the property has historically flooded. In the event that the property has been flooded in past which is not notified by the seller, then a buyer may commence a claim for damages resulting from an inaccurate response. A buyer’s solicitors may also order an environmental report. This should reveal if there is a recorded flood risk. If so, additional inquiries will need to be initiated.
I have todaydiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Tisbury for a purchase of a freehold house 12 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The quickest way to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tisbury conveyancing specialists.
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Tisbury I like with amenity areas and railway links nearby, however it only has 49 years unexpired on the lease. There is not much else in Tisbury in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan that many years may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.