When does exchange of contracts take place for purchase conveyancing in Greenfield and do I need to be at the conveyancers office?
Where you are in close proximity to our conveyancing solicitors in Greenfield you are welcome to attend to sign the paperwork. However, the lender approved solicitors we recommend provide a national conveyancing service and provide as equally diligent and professional a job for you when communicating with you electronically. The signing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the firm to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Greenfield)to be in the office available at the end of the phone to exchange contracts.
When it comes to lenders such as Nottingham, do Greenfield solicitors incur a fee to be on the list of approved solicitors?
We are unaware 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.
I recently had an offer agreed on a house in Greenfield. My financial adviser suggested a conveyancing practitioner. I paid an advanced payment of £175. A few days later, the property lawyer contacted me sheepishly admitting that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told two weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Greenfield is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Greenfield differ for new build properties?
Most buyers of new build property in Greenfield come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Greenfield usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Greenfield or who has acted in the same development.
I decided to have a survey done on a property in Greenfield before instructing lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies will not grant a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Greenfield. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been sourcing a conveyancing lawyer in Greenfield for my house move. Is there any facility to review a firm’s record with the profession’s regulator?
Members of the public can read documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. To find details Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator could recorded telephone calls for training reasons.
New build sellers have put forward a lawyer and I've obtained a quote from them. They are almost three hundred pounds less expensive than my local Greenfield conveyancing practitioner. What's the catch?
Developers often have panels of conveyancing practitioners who are quick and who know the builder's paperwork and conveyancer. Plenty of developers offer an inducement to choose a preferred conveyancer for this reason, any increased cost can be avoided and a developer won't suggest a conveyancing warehouse and run the risk of having the conveyancing stall when they need an exchange in 28 days. A counter-argument for not agreeing to use the recommended lawyer is that they may prove hesitant to fight for your interests at the risk of alienating the sellers. Where you have concerns that this may be the situation you should keep with your local Greenfield lawyer.