My husband and I are looking to buy a property in Wargrave and are in fact using a Wargrave conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. HSBC Bank have this afternoon contacted us to inform me that there is now an issue as our Wargrave conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Wargrave solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Are the Wargrave conveyancing solicitors identified as being on the Coventry BS conveyancing panel, together with their details provided by Coventry BS?
Wargrave conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
I am remortgaging my flat in Wargrave, does my lawyer need to be on the Aldermore Solicitor panel?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I have been told that property searches are the main reason for hinderance in Wargrave conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Wargrave.
4 months have gone by following my purchase conveyancing in Wargrave completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Is it possible to switch conveyancer as I need to retain one who is on the Alliance & Leicester conveyancing panel. I instructed a family conveyancing solicitor in Wargrave five minutes from me but the firm is not accepted by Alliance & Leicester
It would be our pleasure to assist you find a conveyancing solicitor in Wargrave on the Alliance & Leicester panel. Please note that the solicitors that we work with do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Wargrave. In utilising search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Wargrave.