My fiance and I are hoping to acquire a flat in Downham and are in fact using a Downham conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Lloyds TSB Bank have this afternoon contacted us to inform me that they have now hit a problem as our Downham solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors 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 bank 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 bank's conveyancing panel as you are at liberty to use your preferred Downham lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
What is the first thing I need to know concerning purchase conveyancing in Downham?
Not many law firms shout this from the rooftops but conveyancing in Downham and elsewhere in England and Wales is an adversarial process. In other words, when it comes to conveyancing there is lots of room for conflict between you and other parties involved in the ownership transfer. For example, the seller, property agent and on occasion a mortgage company. Selecting a law firm for your conveyancing in Downham should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the legal process whose interest is to look after your legal interests and to keep you safe.
Sometimes a potential adversary may try and sway you that it is in your interests to do things their way. For example, the property agent may claim to be helping by claiming that your lawyer is wrong. Or your mortgage broker may advise you to do something that is contrary to your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am due to move home in January. Should my conveyancing solicitor call the removal company on the completion day. As an aside, can you recommend a removal company in Downham. Conveyancing solicitor was found before I stumbled across your page.
On the day of completion you can collect the keys from the estate agent however this can only happen when the vendors solicitors inform the agent that the monies to complete are in and the keys can be given over. After that you should tell the removal men that you are ready to move in. We are not in a position to recommend a specific removal company but can assist you in locating a residential property solicitor in Downham or a lawyer with expertise in conveyancing in Downham.
When it comes to lenders such as Bank of Ireland, do Downham lawyers incur an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
How can we know in advance if a Downham conveyancing solicitor on the Bank of Ireland panel is any good?
When it comes to conveyancing in Downham obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor handling your transaction.
What does a local search inform me concerning the house I am buying in Downham?
Downham conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search plays a central part in most Downham conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
The deeds to our home can not be found. The lawyers who did the conveyancing in Downham 4 years ago have long since closed. What are my next steps?
As long as the title is registered the details of your ownership will be recorded by the Land Registry under a Title Number. It is easy to carry out a search at the Land Registry, identify your property and secure current copies of the property title for a small fee. If the property is Leasehold then the Land Registry will also normally retain a certified duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
Due to the encouragement of my in-laws I had a survey completed on a property in Downham prior to instructing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some banks may refuse to grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Downham. Conveyancing will be smoother if you use a solicitor in Downham especially if they are acquainted with such properties in Downham.