My wife and I are hoping to acquire a house in Northwich and have instructed a Northwich conveyancing firm. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Accord Mortgages Ltd have this afternoon contacted us to advise us that they have now hit a problem as our Northwich solicitor is not on their approved list of lawyers. What do we do from here?
Where you are buying a property needing a mortgage it is conventional for the purchasers' lawyers to also act for 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 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 and you may continue to use your own Northwich solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
What is the first thing I need to know concerning purchase conveyancing in Northwich?
You may not hear this from too many lawyers but conveyancing in Northwich and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there is an abundance of room for friction between you and other parties involved in the home moving process. E.g., the vendor, property agent and on occasion the bank. Selecting a lawyer for your conveyancing in Northwich should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the legal process whose role it is to act in your legal interests and to keep you safe.
Sometimes a third party with a vested interest may try and convince you that it is in your interests to do things their way. For example, the selling agent may claim to be assisting by suggesting your lawyer is slow. Or your financial adviser may tell you to do take action that is against your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am refinancing my house in Northwich, does my lawyer have to be on the UBS Conveyancing panel?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I can see plenty of information on this site concerning conveyancing in Northwich but what is your top tip for appointing the right conveyancer in Northwich
It would be unwise to be swayed by the lowest Northwich conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
Is there a list of Kent Reliance panel conveyancers in Northwich on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings viewable online. Where you are looking for a Northwich lawyer on the Kent Reliance please use our tool.
We are getting the release of further monies on our home loan from Aldermore as we intend to carry out improvements to our home in Northwich. Are we obliged to choose a nearby Northwich solicitor on the Aldermore conveyancing panel to handle the legals?
Aldermore would not normally instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
Should our solicitor be asking questions concerning flooding as part of the conveyancing in Northwich.
The risk of flooding is if increasing concern for solicitors dealing with homes in Northwich. There are those who acquire a property in Northwich, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, however there are a numerous searches that may be initiated by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Northwich. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the owner to discover if the property has historically flooded. In the event that flooding has previously occurred and is not notified by the owner, then a buyer could commence a legal claim for losses stemming from an misleading answer. A buyer’s lawyers may also commission an enviro report. This will disclose if there is a recorded flood risk. If so, further investigations should be initiated.
How does conveyancing in Northwich differ for new build properties?
Most buyers of new build premises in Northwich approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Northwich usually purchase the real estate, 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 conveyancers 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 used to new build conveyancing in Northwich or who has acted in the same development.