My husband and I are planning to purchase a flat in Isle of Sheppey and have instructed a Isle of Sheppey conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Norwich and Peterborough Building Society have this morning contacted us to advise us that there is now an issue as our Isle of Sheppey solicitor is not on their conveyancing panel. What do we do from here?
Where you are buying a property requiring a mortgage it is normal 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 solicitor 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Isle of Sheppey solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are about to sign contracts for a garden flat in Isle of Sheppey. We encountered a problem. The mortgage offer with Lloyds TSB Bank runs out on 4/8/2025 but the sellers are suggesting a completion date of 6/8/2025. Can one extend the mortgage expiry date?
The best person to address this concern is your solicitors who will hopefully determine if he or she is should be discussing with the bank, owner’s conveyancers, selling agents or conceivably all parties taking into account the history of your house move to date.
I can see plenty of here about conveyancing in Isle of Sheppey but what is your top tip for finding the right conveyancer in Isle of Sheppey
Do not opt for the lowest Isle of Sheppey conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
When it comes to lenders such as Clydesdale, do Isle of Sheppey conveyancers face a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I had a mortgage agreed in principle with Principality. Isle of Sheppey conveyancing solicitors were instructed. What is the average time that one could expect to receive a mortgage offer from Principality?
Some lenders take longer than others. Have Principality completed the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I need some quick conveyancing in Isle of Sheppey as I am under an ultimatum to exchange contracts within one month. Thankfully I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to have searches conducted although no conveyancer would suggest that you don't. With lots of history conveyancing in Isle of Sheppey the following are instances of what can be revealed and therefore affect future mortgageability: Enforcement Actions, Overdue Charges, Overdue Grants, Railway Schemes,...
How does conveyancing in Isle of Sheppey differ for new build properties?
Most buyers of new build or newly converted property in Isle of Sheppey approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Isle of Sheppey usually purchase 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 used to new build conveyancing in Isle of Sheppey or who has acted in the same development.
We are a couple of weeks into a freehold purchase having been referred to conveyancers by the estate agent to do our conveyancing in Isle of Sheppey. I am am very disappointed with the quality of service. Can you you assist me in finding new conveyancers?
A conveyancer would have to be very bad to suggest diss instructing them. Has your mortgage been sent? If so you will need to inform them of the new contact details and have the loan are issued to the new lawyers. Your new conveyancer needs to be on the mortgage company panel to avoid supplemental costs and complications. So that should be your first question of the new solicitors. The find a solicitor tool will help you find a bank approved lawyer for your home move in Isle of Sheppey