I can't travel far from Baldock. Is there a reason why all Baldock conveyancing practitioners aren't automatically on all lender panels?
Before the recession most banks exhibited an approach to risk which is different from today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancers on your panel. As a result, mortgage companies have subsequently requiredmore information from law firms regarding their processes and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Many firms have been excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the criteria of volume of transactions the lenders required.
Are the Baldock conveyancing solicitors identified as being on the HSBC conveyancing panel, together with their details provided by HSBC?
Baldock conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
Is it the case that all Baldock solicitors on the RBS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the RBS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of banks do allow licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
I have decided to exercise my right to buy my property in Baldock off the council. I have a mortgage agreed with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
Our offer on a detached house in Baldock has been accepted, the owners do however have a connected purchase. The owners have put an offer on on an apartment, however it’s not yet tied up, and are looking at other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Baldock. What do I do now? When should I get the mortgage application with RBS started?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then valuation, Baldock conveyancing search charges, etc). The first course of action is to check that your solicitor is on the RBS conveyancing panel. As to the subsequent stages this very much depends on the specifics of your case, attraction to this property and on the state of the market. During a buoyant market many home buyers would apply for a home loan with RBS and pay for the valuation and only if it comes back ok would they pay their lawyer to press on with the conveyancing in Baldock.
I require fast conveyancing in Baldock as I have an ultimatum to exchange contracts inside one month. A home loan is not required. Can I decline from having conveyancing searches to save money and time?
As you are are a mortgage free buyer you are at liberty not to do searches although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Baldock the following are instances of issues that can show up and therefore affect future saleability: Enforcement Actions, Overdue Fees, Overdue Grants, Road Schemes,...
The deeds to my house can not be found. The solicitors who conducted the conveyancing in Baldock 10 years ago no longer exist. Will I be able to sell the house?
In today’s world there are duplicates made of almost everything, and your lawyer will know precisely where to find all the suitable documentation so you may purchase or dispose of your property without a hitch. If duplicates can’t be located, your lawyer can put in place insurance or indemnities against possible claims on your premises.
How does conveyancing in Baldock differ for new build properties?
Most buyers of new build or newly converted property in Baldock come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Baldock 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 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 Baldock or who has acted in the same development.