My fiance and I are looking to buy a flat in Langham and have instructed a Langham conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Virgin Money have this evening contacted us to inform me that they have now hit a problem as our Langham solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is normal 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 Accreditation Scheme. Your solicitor 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Langham solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
All was ready to complete my purchase in Langham next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not specific to conveyancing in Langham.
I have 70 years left on my lease and require a lease extension for my apartment in Langham. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/1/2025 the requirements read as follows :
I have recentlybecome aware that Wolstenholmes have closed. They carried out my conveyancing in Langham for a purchase of a freehold house 18 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The quickest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Langham conveyancing specialists.
I decided to have a survey done on a house in Langham before retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders may not grant a mortgage on such a property.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Langham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Langham to see if the conveyancing costs will increase in light of this.
We're new to the buying process - agreed a price, yet the estate agent advised that the vendor will only move forward if we instruct their chosen conveyancers as they want a ‘quick sale’. We would rather use a high street solicitor accustomed to conveyancing in Langham
We suspect that the owner is not behind this demand. Should the owner want ‘a quick sale', turning down a genuine buyer is not the way to achieve this. Speak to the vendors direct and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Langham conveyancing lawyers - not the ones that will provide their estate agent a introducer fee or meet his conveyancing thresholds demanded by senior management.