My fiance and I are planning to purchase a house in Bishops Lydeard and are in fact using a Bishops Lydeard conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Platform Home Loans Ltd have this morning contacted us to inform me that they have now hit a problem as our Bishops Lydeard lawyer is not on their conveyancing panel. Please explain?
If you are buying a property needing a mortgage it is normal for the purchasers' lawyers 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 property lawyer should contact your mortgage company 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 bank's conveyancing panel as you are at liberty to use your preferred Bishops Lydeard lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can you recommend a Alliance & Leicester approved Bishops Lydeard conveyancing lawyer who can have us moved in within less than a month? Am I best advised to unstruct a high street Bishops Lydeard firm or an internet comparison site?
We can recommend some very good Bishops Lydeard conveyancing firms. Another option is to visit the high street in Bishops Lydeard. Approach two or three law practices and request to see a conveyancing solicitor for a costs illustration. Discuss your expectations together with your reasons and get an assurance on speed. Appoint the lawyer that you trust.
We see that you have a post code search directory listing law firms on the Virgin Money conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Bishops Lydeard?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bishops Lydeard.
We're in Bishops Lydeard, First time buyers purchasing with a mortgage (lender is UBS , and our solicitor is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Bishops Lydeard is where the house is located. Can you offer any advice?
Flying freeholds in Bishops Lydeard are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bishops Lydeard you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bishops Lydeard may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I need to swap lawyers as my Bishops Lydeard lawyer is not on the lender's approved list of conveyancing solicitors. Is it practical to instruct different lawyers?
In the event that you have not formally appointed a conveyancer to do anything for you and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Bishops Lydeard that you're considering.