My wife and I are looking to buy a property in Blackfriars and have appointed a Blackfriars conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Scotland have this evening contacted us to inform me that they have now hit a problem as our Blackfriars solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also represent 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 Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Blackfriars solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
we are a couple who are purchasing a purpose built flat in Blackfriars with a loan from Birmingham Midshires.We use our Blackfriars conveyancing solicitor but Birmingham Midshires advised that he's not on their approved list of member firms. we are left little option but to use a Birmingham Midshires panel lawyer or keep our high street solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Birmingham Midshires use our lawyer?
No, not really. The home loan issued to you is subject to its various provisions, one of which will be that lawyers needs to be on the Birmingham Midshires conveyancing panel. Until recently, most banks 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 lawyer to apply to be on the conveyancing panel for Birmingham Midshires
I am assisting my step-mother sell her property in Blackfriars. Will the solicitor arrange the energy performance certificate or should I organise this?
After the abolition of HIPs, energy performance certificates was maintained a mandatory element of moving house. An EPC should be commissioned in advance of the property being marketed. It is not a task that lawyers normally organise. Where you are instructing a Blackfriars conveyancing lawyer they might help arrange energy assessments due to their relationships with long established local assessors
We have agreed to purchase a house in Blackfriars. A rare aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is TSB your lawyer must comply with the formal instructions set out in Section two of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and conveyancers are required to report to TSB where a lease does not meet these provisions. The specifications relate to the installation of panels on properties countrywide and is not limited to Blackfriars.
My sealed bid on a detached house in Blackfriars has been accepted, but there is a chain. The owners have placed an offer on a property, however it’s not yet agreed to, and are looking at other properties booked. I have instructed a high street conveyancing solicitor in Blackfriars. What should be my next step? When should I get the mortgage application with UBS going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then survey, Blackfriars conveyancing search charges, etc). First, you must check that your solicitor is on the UBS approved list. Concerning the subsequent stages this very much dictated by the uniqueness of your case, motivation for the property and on the state of the market. In a buoyant market many purchasers would apply for the mortgage with UBS and pay for the valuation and only if it comes back ok would they ask their property lawyer to press on with searches.
How does conveyancing in Blackfriars differ for newly converted properties?
Most buyers of new build property in Blackfriars come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Blackfriars typically buy the land, 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 conveyancing solicitors 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 Blackfriars or who has acted in the same development.
I need to appoint a conveyancing solicitor for residential conveyancing in Blackfriars. I've land on a site which looks to be the ideal solution If there is a chance to get all the legals completed via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am planning to acquire a property and require a conveyancing solicitor in Blackfriars who is on the bank solicitor panel. Could you point me in the right direction as regards a Blackfriars conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who carry out conveyancing in Blackfriars. We dont recommend any particular firm.