My husband and I are looking to purchase a property in Calcot and have appointed a Calcot 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. Britannia have this afternoon contacted us to inform me that there is now an issue as our Calcot solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also act for 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 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 bank's conveyancing panel as you are at liberty to use your preferred Calcot lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Do the Building Society Association intend to launch a searchable register to list solicitors on the Earl Shilton BS conveyancing panel for example in Calcot?
We are not aware of any plans on the part of the BSA to develop such a search facility.
What is the difference between a licensed conveyancer and conveyancing solicitor in Calcot
There are many recorded licenced Conveyancers in Calcot and Solicitor firms in Calcot offering conveyancing We would stress that both are regulated professionals specialising in the legal aspects of the home buying process. The two can conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My lawyer has informed me that lack of planning permission insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Calcot?
The appropriate level of lack of planning permission indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Chelsea Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
We have agreed to purchase a house in Calcot. One unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Santander your lawyer must check the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Santander. The CML Handbook includes minimum requirements for solar panel roof-space leases, and lawyers are required to report to Santander where a lease fails to meet these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Calcot.
I have been told that property searches are the main reason for delay in Calcot house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Calcot.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Calcot is the location of the property. Can you shed any light on this issue?
Flying freeholds in Calcot are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Calcot you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Calcot may determine 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 premises.
Are all Calcot property lawyers on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can drop into your local lender branch in Calcot. Chances are that they will be in a position to suggest some reputable conveyancing solicitors in Calcot