My fiance and I are planning to buy a property in Littleport and have instructed a Littleport conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Bank of Scotland have this evening contacted us to advise us that there is now an issue as our Littleport conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual 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 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Littleport lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Finally the sale completed on my house in Littleport last October yet the purchaser is e-mailing me to moan that their solicitor is waiting to hear from mylawyer. What should have happened now that I have sold?
Post completion of your sale your solicitor is committed to deliver the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor must also confirm that the legal charge in favour of the lender has been repaid to the buyers conveyancers. There are no post completion formalities just for conveyancing in Littleport.
My wife and I are purchasing a property in Littleport. I might seem paranoid but how we can trust a conveyancer? On completion day we have to deposit our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously chose conveyancers based in Littleport on the Coventry BS solicitor panel. They have just invoiced me a further charge for dealing with the Coventry BS mortgage. Is this a supplemental conveyancing fee specified by Coventry BS?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. The fee is not dictated by Coventry BS but by your Littleport conveyancing practitioner. Plenty of firms on the Coventry BS panel will levy ’dealing with mortgage’ fee and others do not.
I had a mortgage agreed in principle with Virgin Money. Littleport conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money done the valuation? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have recentlybeen informed that Stirling Law have closed. They carried out my conveyancing in Littleport for a purchase of a leasehold apartment 18 months ago. How can I check that my home is in my name in the name of the previous owner?
The easiest method to check if the premises is in your name, you can make 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 Littleport conveyancing specialists.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Littleport is the location of the property. What do you suggest?
Flying freeholds in Littleport are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Littleport you must be sure that your lawyer goes 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 Littleport may decide 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 residence.
My husband and I are one month into a residential purchase having been recommend to conveyancers by the high street agent to do our conveyancing in Littleport. I am am starting to be dissatisfied with the quality of service. Can you help me find new solicitors?
A lawyer would have to be really bad in order to consider diss instructing them. Has your mortgage been generated? If so you must make them aware of the replacement lawyer and have the offer are re-issued. Your conveyancer should be on the mortgage company panel to avoid supplemental charges and delays. That should be your starting point. Our search tool will help you find a bank approved lawyer for your conveyancing in Littleport