My husband and I are hoping to purchase a flat in Fowey and have instructed a Fowey conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Barclays Direct have this evening contacted us to advise us that there is now an issue as our Fowey solicitor is not on their conveyancing panel. Please explain?
If you are buying a property needing a mortgage it is normal for the purchasers' solicitors 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 solicitors to act. 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 Fowey 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.
It is a dozen years since I acquired my house in Fowey. Conveyancing lawyers have just been retained on the sale but I can't find my title documents. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be kept by the mortgage company or they may be in the possession of the lawyers who handled your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Fowey relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
What happens if my lawyer’s firm is suspended from the Nationwide Solicitor panel ahead of completing my conveyancing in Fowey?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
When it comes to mortgage companies such as Skipton, do Fowey solicitors have to pay a fee 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 fee to deal with the processing of the conveyancing panel submission.
I am currently in the process of buying my council flat in Fowey. I have a mortgage offer with HSBC. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
Planning on purchasing a flat in Fowey. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Fowey lawyer is on the Nationwide conveyancing panel.
I am looking for a conveyancing lawyer in Fowey for my house move. Is there any facility to check a solicitor's complaints history with the profession’s regulator?
You can search for published Solicitor Regulator Association (SRA) decisions arising from investigations started on or after Jan 2008. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The SRA could recorded call for training purposes.
Me and my husband have recently had an offer agreed on a flat and had meeting on Friday with the Post Office for the mortgage. They advised me that when it comes to selecting a lawyer that if they are not on their approved panel of property lawyers then we will be subject to an a further fee of about two hundred pounds. This is is due to the fact that they will then have to appoint a solicitor to act on their behalf in addition to the one we select for ourselves and we assume responsibility for their invoice. I have asked the Post Office to provide me with a list so I can seek quotes only from their approved solicitors but was told that I need to check with each individual lawyer to see if they are on the panel. What would be the best way of going about this?
You can enquire of the Post Office what their criteria for joining their panel is for a conveyancer.Thereafter ask the conveyancer of your choice whether they fit that criteria and have they acted on loans for the Post Office previously. Where the answer to those is yes, then just double check with the Post Office. Another option is to use our search facility and we should be able to find you a property lawyer in Fowey on the approved list for the Post Office.