Much to our surprise we have been told by our mortgage adviser that my Knighton the law firm I have appointed is not on the lender Solicitor panel. What can I do to be sure whether this is correct?
You need to call your Knighton conveyancer. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
I sincerely hope you can help me. My Knighton lawyer is assuring me that he is legally obliged toconduct Knighton conveyancing searches asthe firm are on the Virgin Moneyconveyancing panel. Is my conveyancer right?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a mortgage company your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Knighton conveyancing searches.
Are the Knighton conveyancing solicitors identified as being on the Bank of Ireland conveyancing panel, together with their details provided by Bank of Ireland?
Knighton conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
I have been told that property searches are the primary reason for stalling in Knighton house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Knighton.
My wife and I purchased a renovated Edwardian property in Knighton. Conveyancing lawyer acted for me and Virgin Money. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under the matching property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Knighton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing solicitor who conducted the conveyancing.
How does conveyancing in Knighton differ for newly converted properties?
Most buyers of new build or newly converted property in Knighton contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Knighton typically 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 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 used to new build conveyancing in Knighton or who has acted in the same development.