My husband and I are buying a 2 bedroom apartment in Hook Norton with a mortgage. We would like to retain our Hook Norton conveyancer, but the lender advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Hook Norton solicitor as well as pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Hook Norton conveyancing solicitor to apply to be on the conveyancing panel.
Is there a search tool that I can utilise to find out if the solicitor conducting my conveyancing in Hook Norton is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Clydesdale thus paying £175.00 in another set of conveyancing invoice.
You should take advantage of the search tool on this site. Pick the lender and type ‘Hook Norton’ or your preferred area and you will discover a number of lawyer located in Hook Norton or near you.
I have been told that property searches are the primary cause of hinderance in Hook Norton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Hook Norton.
How does conveyancing in Hook Norton differ for new build properties?
Most buyers of new build or newly converted property in Hook Norton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Hook Norton typically purchase the site, 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 conveyancers 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 Hook Norton or who has acted in the same development.
My father has encouraged me to use his conveyancers in Hook Norton. Should I use them?
There are no two ways about it the ideal way to find a conveyancing lawyer is to have feedback from friends or relatives who have actually used the solicitor you're are thinking of instructing.