My partner and I are intent on buying a leasehold flat in Poole. My lawyer is not on the mortgage company approved panel. Can I still continue with my Poole conveyancing solicitor notwithstanding that they are not on the lender panel?
Various options include
- Carry on with your existing Poole property lawyer but your mortgage company will need to instruct a solicitor from their conveyancing panel. The net result is additional cost together with probable interruption.
- Get a fresh conveyancing practitioner to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Convince your lawyer to pull out all the stops to get accepted on the lender’s conveyancing panel
My solicitor has identified a defect with the lease for the flat we are buying in Poole. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that he must check that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. These conveyancing instructions have to be complied with.
Due to the input of my in-laws I had a survey completed on a property in Poole prior to instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some lenders may refuse to issue a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you contact us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Poole. Conveyancing will be smoother if you use a solicitor in Poole especially if they are familiar with such properties in Poole.
Am I better off to instruct a Poole conveyancing solicitor who is local to the property I am hoping to buy? I have an old university friend who can perform the conveyancing but his firm is located over three hundred kilometers drive away.
The primary upside of using a local Poole conveyancing practice is that you can attend the office to sign documents, present your ID and pester them if necessary. They will also have local insight which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were impressed that must surpass using an unknown Poole conveyancing solicitor just because they are based in the area.
I am considering choosing an online conveyancer ahead of a Poole conveyancing firm. Am I making a mistake?
Various benefits exist in being able to pop in to a local Poole conveyancing solicitor for example
- signing documents on short notice
- having one on one explanations of issues that you need help with
- the ability to complain if matters need to addressed
When analysing estimates, look carefully for hidden extras. The majority decent Poole high street solicitors give an all-inclusive price. Often online agents appear to offer discounted fees, yet have burried 'extras' in the small print.