Me and my fiance are purchasing a 3 bedroom flat in Ottery St Mary with a mortgage. We wish to retain our Ottery St Mary conveyancer, however the mortgage company advise he's not on their "panel". It seems we have no choice but to instruct one of the bank panel solicitors or continue with our Ottery St Mary property lawyer as well as pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you 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 Ottery St Mary conveyancing lawyer to apply to be on the conveyancing panel.
Do banks and building societies provide you with an approved list of Ottery St Mary conveyancing solicitors? How do you know who is on the Kent Reliance conveyancing panel?
Ottery St Mary conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
My bid for a property was accepted at auction in Ottery St Mary. Conveyancing is needed. What is next?
Having legally bound yourself to purchase you now have to hire the services of a conveyancing practitioner soon as you now have a pending a fixed date to complete the purchase. Every auction property will ordinarily have a corresponding auction pack. This will include evidence of title and search results. Where you are dealing with leasehold property the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You need to pass this on to the conveyancer instructed by you ASAP. Do make sure that your finances are organised to complete the transaction on the set completion date.
I am being told by my lawyer that defective lease insurance is required on my purchase. What is the level of cover for Ottery St Mary conveyancing?
The right level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Coventry Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
The formalities of my remortgage has taken place for my property in Ottery St Mary. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
We are intent on selling our home in Ottery St Mary and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. It does beg the question why the purchasers instructed an internet conveyancing firm rather than a conveyancing solicitor in Ottery St Mary. Having lived in Ottery St Mary for 4 years we know of no issue. Do we get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Over the last few months I have been searching for a flat up to £305k and identified one round the corner in Ottery St Mary I like with open areas and transport links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Ottery St Mary suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the shortness of the lease will be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.