My mortgage broker has asked me for my Exeter law firm’s panel reference for the Nat West conveyancing panel. Can you suggest how I obtain this. I have e-mailed my local Exeter branch but they have not got back to me yet.
The sensible thing to do is ask for this information from your Exeter conveyancing practitioner . They keep a central record lender panel numbers.
We had selected conveyancers locally in Exeter on the Lloyds solicitor approved list. They are now charging me an additional sum for the legal aspects of the Lloyds mortgage. Is this an additional conveyancing fee set by Lloyds?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. This charge is not set by Lloyds but by your Exeter conveyancer. Some firms on the Lloyds panel will quote an ‘acting for lender’ fee and others do not.
About to purchase flat in Exeter. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Exeter property lawyer is on the Nationwide conveyancing panel.
Barclays have agreed my home loan in principle, my offer on a property in Exeter has been accepted, what happens next?
The estate agent will want to know who your solicitors are (be sure the lawyers are on the bank’s approved list). Call up Barclays or your financial adviser and finish off any relevant documentation. Barclays will appoint a valuer who will get in contact with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. Barclays will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Exeter.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Exeter is the location of the property. Can you shed any light on this issue?
Flying freeholds in Exeter are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Exeter you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Exeter 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 residence.
Should I appoint a Exeter conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can deal with the conveyancing but they are based over three hundred miles away.
The benefit of a local Exeter conveyancing practice is that you can visit the firm to execute paperwork, hand in your ID and pester them where appropriate. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and in the main were happy that should trump using an unfamiliar Exeter conveyancing lawyer solely due to them being based in the area.
I have recently placed an offer on a leasehold flat in Exeter and the mortgage adviser that we are using recommended his lawyer. He quoted £900 plus VAT and disbursements. Does this sound steep?
Don't just go on one quote. One should obtain like-for-like quotes for your conveyancing in Exeter. Then select one that you trust and crucially, is on the approved list of the lender that you are sourcing your mortgage from.