Me and my partner are intending to purchase a 2 bedroom apartment in Eye with a mortgage. We have a Eye conveyancer, but the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Eye solicitor as well as pay for one of their panel firms to act for them. This seems very unfair; can we not insist that the mortgage company use our Eye solicitor ?
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 Eye conveyancing lawyer to apply to be on the conveyancing panel.
Does a directory service exist listing Santander panel solicitors in Eye on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association websites. A small selection of lending institutions make their panel listings viewable over the internet. Where you are looking for a Eye conveyancer on the Santander please use our tool.
My wife and I have organised the release of further monies on our mortgage from Aldermore as we intend to carry out a loft conversion to our house in Eye. Are we obliged to appoint a bricks and mortar Eye solicitor on the Aldermore conveyancing panel to handle the paperwork?
Aldermore don't usually require firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
I was told three weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Eye is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
Should our conveyancer be raising questions about flooding during the conveyancing in Eye.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Eye. There are those who buy a house in Eye, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Eye. The standard information sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to find out whether the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a buyer may issue a legal claim for losses as a result of such an incorrect answer. A purchaser’s conveyancers may also carry out an enviro report. This should reveal whether there is any known flood risk. If so, additional investigations will need to be initiated.
I'm remortgaging my existing house to a BTL loan with Bank of Ireland and intend to use the remaining equity as a deposit on further property. The location we are looking at is Eye. Will your conveyancers be able to act for both sets of banks and tie in the transactions?
Do use our search tool on this page to check that the conveyancers are on the appropriate lender panels. On the basis that they are your lawyer will be able to tie up the two conveyancing matters but you should talk with you solicitor and specify your expectations and requirements.
Am I best advised to use a Eye conveyancing lawyer based in the area that I am purchasing? An old friend can conduct the legal formalities but his firm is located 400kilometers away.
The benefit of a high street Eye conveyancing practice is that you can drop in to sign paperwork, present your ID and pester them if necessary. Having local Eye know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and in the main were happy that must trump using an unfamiliar Eye conveyancing solicitor just because they are Eye based.