My fiance and I are looking to buy a house in Northwich and are in fact using a Northwich conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Barclays Direct have this morning contacted us to advise us that they have now hit a problem as our Northwich solicitor is not on their conveyancing panel. What do we do from here?
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 Quality Scheme. Your property lawyer 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 solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Northwich lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My wife and I are acquiring a newly built duplex in Northwich and my lawyer is advising me that she has to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
A friend informed me that in buying a property in Northwich there may be a number of restrictions prohibiting external changes to a property. Is this right?
There are a number of properties in Northwich which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Northwich should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We had chosen conveyancers locally in Northwich on the Co-operative solicitor panel. They have just billed me an additional amount for dealing with the Co-operative mortgage. Is this an additional conveyancing fee set by Co-operative?
Provided it is contained in their Terms of Engagement or Quote then yes your solicitor is entitled to charge a fee for this. This charge is not set by Co-operative but by your Northwich conveyancing practitioner. Plenty of firms on the Co-operative panel will charge an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
I can not work out if my lender requires a lease extension. I have called my Northwich bank branch on various occasions and was told they are content with the situation and they will lend. My Northwich conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
The solicitor has to comply with the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
How does conveyancing in Northwich differ for newly converted properties?
Most buyers of new build or newly converted property in Northwich contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Northwich typically acquire the land, 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 property lawyers 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 accustomed to new build conveyancing in Northwich or who has acted in the same development.
I opted to have a survey done on a property in Northwich before instructing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some banks tend refuse to issue a mortgage on such a premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Northwich. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to instruct a conveyancing solicitor in Northwich for my house move. Is it possible to review a solicitor's complaints history with the legal regulator?
Anyone may review presented Solicitor Regulator Association (SRA) determinations stemming from investigations started on or after Jan 2008. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator could monitor call for training purposes.