My wife and I are looking to purchase a home in Horncastle and have instructed a Horncastle conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Nationwide Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Horncastle solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers 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 Accreditation 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 Horncastle lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I am acquiring a house mortgage free in Horncastle. I have been living for the previous dozen years in Horncastle. Conveyancing searches are a lot of money. As I know the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the Horncastle conveyancing searches are at your discretion. Your solicitor will 'advise', no-doubt strongly, that you should have searches done, but he has a professional duty to do this. Do bear in mind; if you are likely to sell the house one day, it will likely be be of importance to your future purchaser what the searches reveal. Sometimes properties with apparent issues can still show up unexpected search results. A competent conveyancing solicitor in Horncastle will provide you some practical guidance in this regard.
I used Action Conveyancing a few years past for my conveyancing in Horncastle. I now require my papers but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate 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 Horncastle of the conveyancing firm of solicitors you previously used, 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 Horncastle differ for new build properties?
Most buyers of new build property in Horncastle approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Horncastle usually buy 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 Horncastle or who has acted in the same development.
I was recommended by a number of property agents in Horncastle to locate a solicitor on your site. Is there a financial incentive for Estate Agents to offer your lawyers over and above another?
We don’t give any referral fee for sending work our way. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
A couple of months ago I was advised by my lender that their panel solicitors operate no move no charge basis for conveyancing in Horncastle. My purchase aborted yet the conveyancers have invoiced for search fees! They are stating that the fees are seperate!
in offering "no move no fee" Horncastle conveyancing lawyers are writing off their fees for any work conducted. We should make it clear that this is not to be regarded as an insurance scheme. Disbursements aren’t covered – where the property lawyer have to pay money out to independent parties, for instance Horncastle local search fees