My partner and I are hoping to purchase a house in Leamouth and are in fact using a Leamouth conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Lloyds TSB Bank have this afternoon contacted us to advise us that there is now an issue as our Leamouth conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance 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 bank 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 bank's conveyancing panel as you are at liberty to use your preferred Leamouth lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We see that you have a post code search directory listing firms on the Nationwide conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Leamouth?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Leamouth.
Please explain the implications if my lawyer’s firm is suspended from the Coventry BS Solicitor panel ahead of completing my conveyancing in Leamouth?
First, 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.
We are aiming to move house in June. Should my conveyancing solicitor communicate with the removal company on the day of completion. On a separate note, can you put forward a removal company in Leamouth. Conveyancing lawyer was chosen prior to coming across your website.
On the afternoon of completion you can collect the keys from the property agent however this should only happen when the sellers lawyers inform the agent that they have the completion monies and the keys can be given over. After that you should inform the removal men that you are ready to move in. As a matter of policy we do not suggest a particular removal company but can assist you in locating a conveyancing in Leamouth or a firm that specialises in conveyancing in Leamouth.
I am currently in the process of buying my council flat in Leamouth. I have a mortgage offer with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
About to purchase apartment in Leamouth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Leamouth property lawyer is on the UBS conveyancing panel.
My wife and I have a 4 bedroom Georgian property in Leamouth. Conveyancing lawyer represented me and Birmingham Midshires. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be 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 Leamouth and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing practitioner who conducted the work.
Do online conveyancing companies do everything a local Leamouth solicitor does or must I retain a solicitor for the final stages for my conveyancing in Leamouth?
If you choose an online conveyancer they should cover all the work your Leamouth conveyancer would cover.