My partner and I are hoping to buy a property in Penrith and are in fact using a Penrith conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. The Royal Bank of Scotland have this evening contacted us to advise us that they have now hit a problem as our Penrith lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual 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 Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Penrith lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
When will exchange of contracts take place for sale conveyancing in Penrith and am I required to be at the conveyancers branch?
Where you are local to one of the conveyancing solicitors in Penrith you are welcome to come in to sign documents. That being said, the lender approved solicitors we work with supply countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when dealing with you electronically. The signing of the property agreement is not the important part. Signing on the dotted line is necessary for the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Penrith)to be in the office at the appropriate time.
Are the BSA intent on creating a searchable register to to identify law firms on the Earl Shilton BS conveyancing panel for instance in Penrith?
We are not aware of any plans on the part of the BSA to promote such a tool.
I used Stirling Law several years ago for my conveyancing in Penrith. Now, I need the files but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Penrith of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
About to purchase a new build flat in Penrith. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Penrith
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
We're new to the buying process - had an offer accepted, but the selling agent told us that the seller will only issue a contract if we appoint the agent's preferred solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a local solicitor who is accustomed to conveyancing in Penrith
We suspect that the owner is not behind this request. Should the seller desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to go, with finances arranged © you are chain free (d) you intend to proceed fast (e)but you will continue to use your preferred Penrith conveyancing lawyers - rather thanthose that will give the estate agent a kickback or achieve conveyancing thresholds demanded by corporate headquarters.