My wife and I are planning to buy a property in Kingsnorth and are in fact using a Kingsnorth conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Coventry Building Society have this evening contacted us to inform me that there is now an issue as our Kingsnorth lawyer is not on their conveyancing panel. Please explain?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also act for 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 Quality Scheme. Your property lawyer should contact your lender 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 and you may continue to use your own Kingsnorth solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I am buying a new build apartment in Kingsnorth and my solicitor is telling me that she is duty bound to the lender to reveal incentives from the developer. I am on a tight deadline to sign contracts and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We are buying a flat and require a conveyancing solicitor in Kingsnorth who is on the Barclays conveyancing panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Kingsnorth.
How does conveyancing in Kingsnorth differ for new build properties?
Most buyers of new build property in Kingsnorth approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Kingsnorth typically buy the site, 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 Kingsnorth or who has acted in the same development.
I have been pointed in your direction by a couple of local selling agents in Kingsnorth to choose a property lawyer on your site. What’s the financial advantage for Estate Agents to offer your services ahead of alternative conveyancing organisations?
We don’t offer any referral fee for directing people to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am looking for a conveyancing solicitor in Kingsnorth for my home move. Is it possible to see a solicitor's complaints history with the legal regulator?
You may see presented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator may monitor telephone calls for training purposes.