My wife and I are planning to buy a property in Hitchin and have instructed a Hitchin conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Nottingham Building Society have this morning contacted us to inform me that they have now hit a problem as our Hitchin solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also represent the mortgage company. 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hitchin lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Are you able to suggest a Aldermore approved Hitchin conveyancing solicitor who can have us moved in within 28 days? Am I best advised to go for a local Hitchin solicitor or a web based comparison site?
We would be happy to suggest some excellent Hitchin conveyancing firms. You can also walk up the high street in Hitchin. Go in to two or three firms and ask to speak with a conveyancing solicitor for a quote. Explain your expectations together with the reasons and ask for an assurance on your deadline. Appoint the one that genuine.
It is a dozen years since I bought my house in Hitchin. Conveyancing lawyers have just been appointed on the sale but I am unable to track down my title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be retained by the lender or they may be archived with the solicitor who acted in the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Hitchin relates to registered property but in the rare situation where your home is not registered it is more tricky but is resolvable.
Is there a list of RBS panel solicitors in Hitchin on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few banks make their panel listings open the public over the internet. Where you are seeking to appoint a Hitchin property lawyer on the RBS please use our facility.
I am expecting a DIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Hitchin solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Hitchin solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
I currently have a mortgage with Kent Reliance for my property in Hitchin. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
You must advise Kent Reliance before letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel lawyer.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Hitchin is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hitchin are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hitchin you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hitchin may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing solicitor for residential conveyancing in Hitchin. I have discover a site which looks to be the perfect offering If there is a chance to get all formalities done via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?