My fiance and I are hoping to buy a flat in Botley and are in fact using a Botley conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Chelsea Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Botley lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is normal 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 Quality Scheme. Your solicitor 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 solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Botley lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Is it correct that all Botley CQS (Conveyancing Quality Scheme) solicitors are on the Yorkshire BS conveyancing panel?
Some major lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Is it the case that all Botley conveyancing solicitors on the Co-operative conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Co-operative approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do allow licenced conveyancers on their panel and in that case the firms would be governed by the CLC.
After much negotiation I have agreed a price on an apartment in Botley. My financial adviser suggested a property lawyer. I paid an upfront payment of £175. A couple of days later, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Will our conveyancer be raising enquiries about flooding as part of the conveyancing in Botley.
Flooding is a growing risk for lawyers conducting conveyancing in Botley. There are those who acquire a property in Botley, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a numerous searches that may be initiated by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Botley. The standard information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the vendor to discover if the property has historically flooded. If the premises has been flooded in past and is not revealed by the owner, then a purchaser may bring a compensation claim as a result of such an incorrect reply. The buyer’s conveyancers may also commission an enviro report. This should reveal whether there is any known flood risk. If so, more detailed inquiries will need to be carried out.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Botley is where the house is located. Is there any guidance you can give?
Flying freeholds in Botley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Botley you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Botley may ascertain 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 property.
Taking into account that I am about to spend £400,000 on a terraced house in Botley I wish to talk to a conveyancer regarding thetransaction ahead of giving the go ahead to the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be conducting your conveyancing in Botley.There is no ‘factory style conveyancing’ - each client is an important person, not a case reference. The practices that we put you in touch with believe that the figure you are provided with for your conveyancing in Botley should be the figure that you are charged.
I need to retain a conveyancing solicitor for some conveyancing in Botley. I've chance upon a site which appears to be the perfect answer If it is possible to get all formalities done via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
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?