Me and my fiance are hoping to buy a 1 bedroom flat in Silverton with a mortgage. We wish to retain our Silverton conveyancer, however the lender advise he's not on their "panel". It seems we have little option but to use one of the mortgage company panel conveyancing practices or continue with our Silverton lawyer as well as pay for one of their panel lawyers to act for them. This feels very unfair; can we not demand that the lender use our Silverton property lawyer ?
No, not really. Your mortgage offer 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. A further alternative is for your Silverton conveyancing lawyer to apply to be on the conveyancing panel.
Our nephew is about to exchange on a newly built flat in Silverton with a mortgage from Yorkshire BS. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Yorkshire BS conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are purchasing a house in Silverton. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to deposit funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to lenders such as Lloyds, do Silverton conveyancers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Can you point me to a directory of Virgin Money panel conveyancers in Silverton on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings available on the web. Where you are looking for a Silverton property lawyer on the Virgin Money please make the most of our tool.
What will a local search tell me about the property we're purchasing in Silverton?
Silverton conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Searchflow The local search plays a central part in most Silverton conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Silverton is where the house is located. Is there any advice you can give?
Flying freeholds in Silverton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Silverton you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Silverton may determine 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.