My husband and I are hoping to buy a house in Buxton and have appointed a Buxton conveyancing practice. Within the last couple of days 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 advise us that they have now hit a problem as our Buxton conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors 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 Accreditation 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Buxton solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
My mortgage company has suggested a law firm on their panel based in Buxton but I would rather use a conveyancing lawyer in Buxton or nearer to where I live. Are you able to assist?
It is by no means the case that all Buxton conveyancing practitioners are listed all banks conveyancing panel. Use our find an approved solicitor tool to locate a Buxton conveyancing solicitor on the on the lender panel.
I require expedited conveyancing in Buxton as I have a deadline to exchange contracts in less than one month. A home loan is not required. Can I avoid the conveyancing searches to save money and time?
If.Given you are are a cash buyer you are at free not to do searches although no law firm would advise that you don't. With lots of history conveyancing in Buxton the following are instances of what can crop up and therefore impact market value: Refused Planning Applications, Outstanding Charges, Overdue Grants, Unadopted Roads,...
My wife and I have a renovated Victorian property in Buxton. Conveyancing solicitor acted for me and TSB. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Buxton and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing practitioner who conducted the conveyancing.
I opted to have a survey completed on a house in Buxton prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks tend not grant a loan on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Buxton. Conveyancing will be smoother if you use a solicitor in Buxton especially if they are familiar with such properties in Buxton.
Should I instruct a Buxton conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can execute the legal formalities however they are based over three hundred kilometers away.
The primary upside of using a local Buxton conveyancing firm is that you can drop in to sign documents, hand in your identification documents and pester them if necessary. They will also have local insight which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and in the main were impressed that must trump using an unknown Buxton conveyancing lawyer solely due to them being based in the area.