My fiance and I are planning to acquire a home in Norton and have instructed a Norton conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Virgin Money have this evening contacted us to inform me that there is now an issue as our Norton lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is usual 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 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 solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Norton solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are planning to acquire a property and need a conveyancing solicitor in Norton who is on the HSBC solicitor panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for HSBC . We don't recommend any particular firms conducting conveyancing in Norton.
In reviewing moneysavingexpert.com for a conveyancing solicitor in Norton, most say that I must instruct a CQS kitemarked lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing procedures via the scheme protocol It includes numerous organisations who carry out conveyancing in Norton.
How does conveyancing in Norton differ for new build properties?
Most buyers of new build premises in Norton approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Norton tend to acquire 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 Norton or who has acted in the same development.
How simple is it to use your search tool to select a conveyancing lawyer in Norton on the authorised to act for my mortgage?
Step one is to select a lender such as National Westminster Bank, Norwich and Peterborough Building Society or Nottingham Building Society then specify your location such as Norton. Conveyancing firms in Norton and nationally should be listed.
I need to retain a conveyancing solicitor for freehold conveyancing in Norton. I have land on a site which appears to be the ideal answer If it is possible to get all the legals completed via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?