My partner and I are hoping to buy a house in Leigh and have instructed a Leigh conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Coventry Building Society have this morning contacted us to advise us that they have now hit a problem as our Leigh lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also represent 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 mortgage company 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Leigh lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
AssumingI was to purchase a simple residential housein Leigh mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to to save on my conveyancing in Leigh?
Any savings you would achieve will be isolated to the Leigh conveyancing searches. Your property lawyer still got to do everything else - money laundering, liaising with your sellers solicitor, SDLT submission, register the title etc. A slight saving might be made by not needing to register a charge but it will not be significant.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Leigh?
There are two types of lawyers who can conduct conveyancing in Leigh namely licenced conveyancers or solicitors. The two can handle the legal services that you need to complete the sale or acquisition of property. Both are obliged to conduct Leigh conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be properly administered and that the necessary steps should be correctly attended to.
Can you help - my lawyer advises that lack of building regulations insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Leigh?
The right level of lack of building regulations indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
We have a mortgage agreed in principle with Co-operative. Leigh conveyancing lawyers have been instructed. How long does it take for Co-operative to send the offer to the conveyancer?
Some lenders take longer than others. Have Co-operative conducted the survey? Have you advised Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I need some expedited conveyancing in Leigh as I have an ultimatum to sign on the dotted line in less than 3 weeks. Thankfully I do not need a mortgage. Can I escape the need for conveyancing searches to save fees and time?
As you are are a mortgage free buyer you have the choice not to have searches conducted although no solicitor would suggest that you don't. With plenty of history conveyancing in Leigh the following are examples of issues that can crop up and therefore impact future mortgageability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Railway Schemes,...
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Leigh is the location of the property. Can you shed any light on this issue?
Flying freeholds in Leigh are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Leigh you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leigh may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
What does commercial conveyancing in Leigh cover?
Non domestic conveyancing in Leigh covers a broad range of advice, provided by qualified solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.