My husband and I are hoping to acquire a flat in Bures and have appointed a Bures conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Nationwide Building Society have this morning contacted us to inform me that they have now hit a problem as our Bures lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers to also act for 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Bures solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Please could you vouch for a Coventry Building Society approved Bures conveyancing practice finish our house move within under 3 weeks? Am I best advised to go for a local Bures solicitor or an online comparison site?
We can recommend some very good Bures conveyancing firms. You can also walk up the main road in Bures. Approach two or three law practices and request to speak with a conveyancing solicitor for a quote. Discuss your deadline together with your reasons and get a commitment on speed. Choose the one that appears most efficient.
Is there a search tool that I can use to check that the solicitor conducting my conveyancing in Bures is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Ireland thus spending £192.00 in additional legal invoice.
Feel free to make the most of the find a conveyancing panel solicitor tool on this site. Please choose the mortgage company and type ‘Bures’ or your preferred area and you will see numerous conveyancers based in Bures or nearest you.
I require quick conveyancing in Bures as I am under an ultimatum to exchange contracts in less than one month. Thankfully I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are not taking a mortgage you are at free not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in Bures the following are examples of issues that can crop up and adversely affect market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Unadopted Roads,...
Despite weeks of looking the Title Certificate and documents to our property can not be found. The conveyancers who conducted the conveyancing in Bures 5 years ago have long since closed. What are my options?
As long as you have a registered title the details of your ownership will be held by the Land Registry with a Title Number. It is easy to conduct a search at the Land Registry, find your property and obtain up to date copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be obtained for a small fee.
My 20yr old son is embarking on her first house purchase, he had his mortgage in principle. One the seller agreed the offer on the apartment we contacted the mortgage company to progress the mortgage application. We were very surprised to learn that banks do not accept all property lawyer, they must be on their panel, is this correct?
Lenders tend to restrict either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Bures conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.