My husband and I are looking to buy a property in Peasedown St John and have appointed a Peasedown St John conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Britannia have this morning contacted us to advise us that there is now an issue as our Peasedown St John conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is standard 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Peasedown St John lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
My partner and I intend to remortgage our penthouse in Peasedown St John with UBS. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to UBS. This is solely used to protect UBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of UBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Can your site be used to locate a Conveyancing solicitor in Peasedown St John even if I’m not purchasing or selling a house, for example where I want to acquire an office in Peasedown St John with a mortgage from Lloyds TSB Bank?
The service is mainly utilised to locate domestic conveyancing solicitors in Peasedown St John but we have set out towards the end of this page some Peasedown St John commercial conveyancing firms. You will need to enquire with the solicitors directly to establish if they can also act for Lloyds TSB Bank
We are planning to purchase with Norwich and Peterborough Building Society. I dropped in 3 or 4 high street solicitors but cant to find a Peasedown St John conveyancing firm on the Norwich and Peterborough Building Society approved list. Can you help?
Please do make the most of the find a lender approved solicitor tool on this site. Please choose the building society and type Peasedown St John or your preferred area and you will be presented with a number of lawyer located in Peasedown St John or near you.
I bought my flat on 7 August and the transaction details are still not registered. Should I be concerned? My conveyancing solicitor in Peasedown St John advises it should be dealt with in a couple of weeks. Are properties in Peasedown St John particularly slow to register?
There is nothing unique when it comes to conveyancing in Peasedown St John registration formalities. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether it is in order and whether the Land registry have to notify any third persons or bodies. At present approximately three quarters of such applications are fully addressed within two weeks but occasionally there can be protracted delays. Historically registration occurs after the purchaser has moved in to the premises so 'speed' is not usually primary concern yet if it is urgent that the the registration takes place urgently then you or your lawyers could communicate with the Registry to express the reasoning for an expedited registration.
Our mortgage broker has recommended their conveyancing practitioner for our conveyancing in Peasedown St John - Surely it’s advisable to just instruct them?
It is not always the case and you are entitled to opt for whichever property lawyer you decide for your Peasedown St John conveyancing. The solicitor put forward by a 3rd party adviser may not necessarily be the right lawyer, they may put forward their own conveyancing firm who are based remotely. In this instance you may not have contact with your lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.