My husband and I are looking to buy a house in Chandlers Ford and are in fact using a Chandlers Ford conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Clydesdale have this morning contacted us to inform me that there is now an issue as our Chandlers Ford solicitor is not on their approved list of lawyers. Please explain?
If you are buying a property needing a mortgage it is standard 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 Accreditation Scheme. Your property lawyer should contact your lender 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Chandlers Ford solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
My partner and I intend to remortgage our apartment in Chandlers Ford with Co-operative. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of questions (1) Is this document specific to the Co-operative conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Co-operative. This is solely used to protect Co-operative if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Co-operative had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
What does my ID and proof of funds have anything to do with my conveyancing in Chandlers Ford? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing instruction. The Terms and Conditions that you are required to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to hand over identification documents, your conveyancer can not take you on as a client.
I am purchasing a property and require a conveyancing solicitor in Chandlers Ford who is on the Chelsea Building Society conveyancing. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Chelsea Building Society in certain locations such as Chandlers Ford. We dont recommend any particular firm.
Do I need to take out insurance to cover chancel repairs when buying a property in Chandlers Ford?
Unless a prior acquisition of the house took place post 12 October 2013 you can take it that lawyers handling conveyancing in Chandlers Ford to remain recommending a chancel search and or chancel repair liability policy.
Is there an average legal costs for conveyancing in Chandlers Ford?
The average cost in 2014 for conveyancing in Chandlers Ford was £1,500 excluding Stamp Duty and HM Land Registry charges.