It has come to my attention via my financial adviser that my Southbourne property lawyer is not on the lender Solicitor panel. How can I be certain that this is indeed the case?
The sensible course of action for you to take is to contact your Southbourne conveyancer. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they may be able to suggest a Southbourne conveyancing practice that is on the conveyancing panel for your mortgage company.
My lawyer has discovered a defect with the lease for the flat we are buying in Southbourne. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a residence in Southbourne? or Apparently there is historic law that means some homeowners living in a parish church boundary may be liable to pay for repairs to the chancel in proximity to the church. Is this applicable for conveyancing in Southbourne?
Unless a prior purchase of the premises completed post 12 October 2013 you could assume that lawyers delivering conveyancing in Southbourne to continue to propose a a chancel search and or chancel repair liability policy.
How does conveyancing in Southbourne differ for new build properties?
Most buyers of new build or newly converted property in Southbourne contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Southbourne usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Southbourne or who has acted in the same development.
Do online conveyancing companies cover everything a local Southbourne solicitor does or must I use a solicitor for the final stages for my conveyancing in Southbourne?
Where you choose an online conveyancer they should cover all the tasks your Southbourne conveyancer would cover.