My husband and I are looking to purchase a home in Brinsworth and have appointed a Brinsworth conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Norwich and Peterborough Building Society have this morning contacted us to inform me that there is now an issue as our Brinsworth solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also represent the mortgage company. 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 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Brinsworth lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Our Brinsworth solicitor has uncovered a difference between the assumptions in the home valuation report and what is revealed within the title deeds. My lawyer says that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach legitimate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I have an AIP. The bank mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would prefer to instruct a Brinsworth based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers where you want the "fee-free" incentive. Speak to the mortgage company to explore if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Brinsworth.
Are all Brinsworth Conveyancing Quality Solicitors on the Barclays conveyancing list of approved practices?
It is true that some lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
We expect to receive a DIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Brinsworth solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Brinsworth solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I have paid off my mortgage with UBS. I assume I don't need a Brinsworth solicitor on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I need some fast conveyancing in Brinsworth as I am faced with pressure to complete within 3 weeks. Thankfully I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
If.Given you are are a mortgage free purchaser you are at liberty not to have searches conducted although no solicitor would recommend that you don't. Drawing on our experience of conveyancing in Brinsworth the following are examples of what can appear and therefore impact the marketability of the property: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
Due to the encouragement of my in-laws I had a survey completed on a property in Brinsworth prior to instructing solicitors. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies may not grant a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Brinsworth. Conveyancing may be slightly more expensive based on your lender's requirements.