Me and my partner are intending to purchase a 1 bedroom flat in Iver with a mortgage. We wish to retain our Iver solicitor, but the lender says she’s not on their "panel". It seems we have little choice but to select one of the lender panel firms or continue with our Iver conveyancer and pay for one of their panel lawyers to represent them. We feel that this is inequitable; 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 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 Iver conveyancing solicitor to apply to be on the conveyancing panel.
Do the conveyancing lawyers listed on your site perform conveyancing in Iver by way of an attended exchange?
There are a few conveyancing specialists who can conduct attended exchanges. Please call us to obtain a costs illustration and details as to dates.
Will our conveyancer be raising questions concerning flooding during the conveyancing in Iver.
The risk of flooding is if increasing concern for lawyers dealing with homes in Iver. Plenty of people will purchase a property in Iver, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a number of searches that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Iver. The conventional set of information supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the vendor to determine whether the property has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the owner, then a purchaser may commence a compensation claim as a result of such an incorrect reply. The purchaser’s conveyancers will also order an environmental report. This will higlight if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
Due to the encouragement of my in-laws I had a survey completed on a property in Iver ahead of appointing conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some banks may not give a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Iver. Conveyancing will be smoother if you use a solicitor in Iver especially if they are acquainted with such properties in Iver.
Is it necessary during the course of the conveyancing process to pop into the offices of the mortgage company conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Iver as it will be easier to attend their offices when needed.
As opposed to 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Iver.