My fiance and I are planning to purchase a property in Henllys and have instructed a Henllys conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Leeds Building Society have this afternoon contacted us to inform me that there is now an issue as our Henllys solicitor is not on their conveyancing panel. Please explain?
If you are buying a property needing a mortgage it is standard 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 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 solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Henllys lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Henllys?
There are many registered licenced Conveyancers in Henllys and Solicitor partnerships in Henllys who provide Conveyancing services It is important to make clear that both are regulated professionals specialising in the legal aspects of the home buying process. The two can handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Are all Henllys Conveyancing Quality Solicitors on the Santander conveyancing list of approved practices?
A selection of lenders now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
Planning on purchasing a flat in Henllys. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander 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 Henllys conveyancing practitioner is on the Santander conveyancing panel.
I used Stirling Law several years past for my conveyancing in Henllys. Now, I need my documents however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Henllys of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Henllys differ for new build properties?
Most buyers of new build premises in Henllys contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Henllys usually buy the real estate, 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 property lawyers 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 Henllys or who has acted in the same development.
I decided to have a survey completed on a property in Henllys in advance of retaining solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies may not grant a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Henllys. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I best advised to appoint a Henllys conveyancing solicitor who is local to the property I am purchasing? We have a good friend who can perform the conveyancing however her office is approximately 350kilometers drive away.
The primary upside of using a local Henllys conveyancing practice is that you can attend the office to sign documents, deliver your ID and pester them where appropriate. Having local Henllys know how is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were impressed that should surpass using an unknown Henllys conveyancing solicitor just because they are round the corner.