My husband and I are looking to purchase a home in Isle of Sheppey and are in fact using a Isle of Sheppey conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Bank of Ireland have this evening contacted us to inform me that there is now an issue as our Isle of Sheppey lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage 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 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 Isle of Sheppey lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Having sold my house in Isle of Sheppey last August yet the purchaser is telephoning daily to say her conveyancer is waiting to hear from mysolicitor. What are the post completion sale formalities following completion?
Post completion of your house sale your conveyancer is committed to deliver the transfer deeds and all additional paperwork to the purchaser's conveyancer. If applicable, your solicitor should also confirm that the legal charge in favour of the lender has been discharged to the purchasers solicitors. There is unlikely to be post completion procedures unique to conveyancing in Isle of Sheppey.
What happens if my lawyer’s firm is suspended from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Isle of Sheppey?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
What is the difference between a licensed conveyancer and conveyancing solicitor in Isle of Sheppey
There are many recorded licenced Conveyancers in Isle of Sheppey and Solicitor partnerships in Isle of Sheppey who provide Conveyancing services It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. They may both also conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We are due to move house in January. Should my conveyancing solicitor call the removal company on the completion day. Incidentally, can you put forward a removal company in Isle of Sheppey. Conveyancing lawyer was found prior to coming across your page.
On the day of completion you will need to collect the house keys from your estate agent but this should only happen once the previous owners solicitors advise the agent that the monies to complete are in and the keys can be given over. You can advise the removal company that they can start moving you in. We do not recommend a specific removal company but can help you choose a residential property solicitor in Isle of Sheppey or a solicitor that specialises in conveyancing in Isle of Sheppey.
After what seems like an age I have had an offer on an apartment in Isle of Sheppey agreed to, the vendors do nevertheless have an associated purchase. The sellers have put an offer on a flat, but it’s not yet agreed to, and are looking at other properties in the pipeline. I have selected a nearby conveyancing solicitor in Isle of Sheppey. What do I do now? When do I get the mortgage application with Kent Reliance going?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Isle of Sheppey conveyancing search fees, etc). First, you must ensure that your property lawyer is on the Kent Reliance approved list. Regarding the next steps this very much dictated by the uniqueness of your case, motivation for the property and on the state of the market. During a buoyant market many home buyers would apply for the mortgage with Kent Reliance and pay for the valuation and only if it comes back ok would they request their solicitor to proceed with the conveyancing in Isle of Sheppey.
I decided to have a survey carried out on a property in Isle of Sheppey ahead of retaining lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks tend not issue a mortgage on such a house.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Isle of Sheppey. Conveyancing will be smoother if you use a solicitor in Isle of Sheppey especially if they are familiar with such properties in Isle of Sheppey.
I have been pointed in your direction by a number of selling agents in Isle of Sheppey to find a property lawyer using your seach tool. Is there a financial advantage for Estate Agents to promote your lawyers ahead of another?
We refuse to offer any commission for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.