I plan on acquiring property in Tonbridge. My property lawyer is not listed on the mortgage company approved list. Is it possible for me to continue with my Tonbridge conveyancing solicitor even though they are not on the lender panel of approved conveyancing solicitors?
You will need to appoint a solicitor to deal with the legal work required if you need a loan to purchase your home. They will conduct all the necessary legal checks on the property, ensuring that you will be registered as proprietor and ensure that all the required mortgage paperwork is dealt with. You could appoint a Tonbridge conveyancing practitioner of your choosing. Nevertheless, where the conveyancing practitioner appointed is not on the mortgage company conveyancing panel supplemental fees will be incurred as separate legal representation will be need by the mortgage company. Bank panel applications can be submitted, so provided your lawyer has not historically sought membership they can do so.
My husband and I are getting closer to an exchange on a flat in Tonbridge and my parents have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has not come from me my property lawyer needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The lawyer is obliged to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Why is leasehold purchase conveyancing in Tonbridge is more expensive?
Tonbridge leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
What is the difference between a licensed conveyancer and conveyancing solicitor in Tonbridge
There are many registered licenced Conveyancers in Tonbridge and Solicitor partnerships in Tonbridge who provide Conveyancing services It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We were going to get a OIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any Tonbridge solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Tonbridge solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I was told four weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in Tonbridge is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their PI Insurance.
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 Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
My colleague recommended that where I am buying in Tonbridge I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Tonbridge conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Tonbridge around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Tonbridge.