I have just been advised by my lender that my Flamborough lawyer is not on the lender Solicitor panel. How can I be sure whether this is correct?
You need to call your Flamborough conveyancer. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they may be able to suggest a Flamborough conveyancing practice that is on the conveyancing panel for your lender.
Me and my partner are due to exchange buying a property in Flamborough but as a result of wreckage from a small fire at the property I have managed to agree recompense from the owner of £3k taking the form of a deduction in the price. I had intended this to be addressed as part of amending the contract however Nationwide are not allowing this. Why were they approached?
The property lawyer being on the Nationwide approved list is obliged to inform Nationwide of any variations to the purchase price. If you prohibit your conveyancing practitioner to disclose the price change to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new lawyer for your conveyancing in Flamborough.
I am considering applying for a HSBC mortgage for purchase of a new build (under development) in Flamborough with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I opted to have a survey done on a property in Flamborough before retaining solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders may refuse to issue a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Flamborough. Conveyancing may be slightly more expensive based on your lender's requirements.
Builders have suggested I use a conveyancing practitioner and I've obtained a quote from them. It's nearly £250 cheaper than my own Flamborough solicitor. What's the catch?
Housebuilders frequently have panels of solicitors who expedite matters and who know the developer’s contract and lawyer. Plenty of developers offer an inducement to use their approved lawyer for this reason, any increased fees can be avoided and a developer will not put forward a conveyancing warehouse and run the risk of having the transaction delayed when they require an exchange inside a month. A counter-argument for not agreeing to use the recommended property lawyer is that they may prove hesitant to fight for your interests for fear of alienating the developer. Where you have concerns that this may be the case you should remain with your high street Flamborough conveyancing practitioner.