We wanted to use a property lawyer in Seaton for our home move. Our financial adviser has since advised us that our mortgage lenders Barnsley Building Society won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most lenders had an appetite for risk which was higher than today. Almost all Seaton conveyancing firms would have been on many lender panels. The financial services regulator in 2010 conducted a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms about their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum amount of conveyancing. Many Seaton conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Seaton is amongst the numerous areas where the lawyers showing on our search results are are approved Barnsley Building Society.
If you had a top tip for selecting a conveyancing solicitor in Seaton what would it be?
Do not opt for the lowest Seaton conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Is it correct that all Seaton CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
A selection of lenders now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
Can you point me to a directory of Co-operative panel conveyancers in Seaton on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. Very few lending institutions make their panel listings open the public online. If you are in need of a Seaton lawyer on the Co-operative please use our tool.
How does conveyancing in Seaton differ for newly converted properties?
Most buyers of new build or newly converted property in Seaton contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Seaton typically acquire the land, 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 used to new build conveyancing in Seaton or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Seaton is where the house is located. What do you suggest?
Flying freeholds in Seaton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Seaton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Seaton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am looking into buying my first house which is in Seaton and I am already nervous. I couldn't find anything specific about Seaton. Conveyancing will be needed in due course but do you know about the Seaton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Seaton. In the meantime here are some basic statistics that we found