I have just started taking steps with the intention of porting my existing standard loan to a Buy to Let HSBC Bank mortgage. I have been informed by my broker that I require a lawyer for this. I spoke to the same Felpham conveyancing solicitor who dealt with the legals when I first bought the house. The costs illustration they've given of £450 plus VAT has surprised me as its a refinance than a sale or purchase.
The estimate fees appear a tad high. If you you were to look around you could reduce the fees marginally by as much as £125. On the other hand, if you were satisfied with the service the firm offered you mightlive to rue opting for an a cheaper solicitor. Don't forget to ensure that the firm can also act for HSBC Bank. You can use our search tool to choose a Felpham conveyancing firm on the HSBC Bank approved list of lawyers, which can often include conveyancing solicitors in Felpham.
My Solicitor in Felpham is not listed on the Bank of Scotland Solicitor Panel. Is it possible for me to retain my family solicitor notwithstanding that they are excluded from the Bank of Scotland approved list?
The limited options available to you here include:
- Complete the purchase with your existing Felpham lawyers but Bank of Scotland will need to use a conveyancer on their panel. This will inevitably rack up the overall legal charges and result in delays.
- Choose a new solicitor to act in the purchase, remembering to check they are Bank of Scotland approved.
- Persuade your Bank of Scotland solicitor to attempt to join the Bank of Scotland panel
Is it the case that all Felpham solicitors on the Bank of Ireland conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be regulated by the SRA. Some banks do allow licenced conveyancers on their panel and in that case the firms would be regulated by the CLC.
I'm in the process of viewing flats in Felpham and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a home loan with Bank of Ireland.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are taking out a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
I had an offer accepted on a property in Felpham on 3/12/2024, valuation was booked 3 days later, received a clean bill of health. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to Co-operative and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Co-operative conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
Yesterday I discovered 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, no chain conveyancing. Felpham is where the house is located. Can you offer any guidance?
Flying freeholds in Felpham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Felpham you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Felpham may decide 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.
What is the reason for new build conveyancing in Felpham being more expensive?
Conveyancing in Felpham for recently converted or new build homes usually involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as additional queries and contractual considerations.