My partner and I are planning to buy a flat in Ottery St Mary and have appointed a Ottery St Mary conveyancing practice. Within the last couple of days 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 Ottery St Mary lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is standard 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 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 lender’s conveyancing panel as you are at liberty to use your preferred Ottery St Mary lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We were just about to exchange contracts for a freehold house in Ottery St Mary. We encountered a problem. Our loan offer with Barclays expires on 25/9/2025 but the sellers are putting forward a completion date of 29/9/2025. Is it possible to extend the mortgage offer?
The best person to deal with your concern is your solicitors who will hopefully calculate whether they corresponding with the lender, vendor’s lawyers, estate agents or conceivably all parties given the circumstances your transaction to date.
Can you help - my lawyer says that flying freehold insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Ottery St Mary?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Nationwide Building Society and The Mortgage Works. Conveyancing lawyers as opposed to members of the public take out such insurances.
I recently had an offer accepted on an apartment in Ottery St Mary. My financial adviser recommended their conveyancers. I paid an on account payment of £150. A couple of days later, the property lawyer called me sheepishly admitting that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my house. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being a right pain. The Ottery St Mary solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I decided to have a survey done on a property in Ottery St Mary in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some mortgage companies will not issue a mortgage on such a home.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. If you contact us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ottery St Mary. Conveyancing will be smoother if you use a solicitor in Ottery St Mary especially if they are familiar with such properties in Ottery St Mary.
How simple is it to swap solicitor as I have to appoint a firm on the Platform Home Loans Ltd conveyancing panel. I hired a family conveyancing solicitor in Ottery St Mary round the corner but he is not approved by Platform Home Loans Ltd
We will our best to assist in finding you a conveyancing solicitor in Ottery St Mary on the Platform Home Loans Ltd panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Ottery St Mary. In utilising the find a conveyancing solicitor tool on this page, you can compare costs for conveyancing solicitors in Ottery St Mary and beyond.
As co-executor for the estate of my aunt I am selling a property in Newport but live in Ottery St Mary. My conveyancer (based 250 miles from meneeds me to execute a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in Ottery St Mary who can attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are based in Ottery St Mary