My wife and I are planning to purchase a house in Portishead and have instructed a Portishead conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Coventry Building Society have this afternoon contacted us to advise us that there is now an issue as our Portishead solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors 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 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 bank's conveyancing panel and you may continue to use your own Portishead solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I had intended to instruct a conveyancing solicitor in Portishead for our house purchase. Our broker informed us that our mortgage lenders Bank of Scotland won't deal with them. Surely this is unfair competition?
Banks normally imposes restrictions either the category or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. As well as restricting the profile of firm, some have reduced the amount of solicitor practices they use to represent them. You should note that Bank of Scotland have no responsibility for the quality of advice provided by any member of Bank of Scotland Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels since 2008 even though there remains differing opinions concerning the level of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that hundreds of law firms, including some in or near Portishead only conduct a couple conveyances a year.
Is it necessary to take out insurance to cover chancel repairs when buying a property in Portishead?
Unless a previous acquisition of the property completed after 12 October 2013 you may expect conveyancing practitioners delivering conveyancing in Portishead to remain encouraging a chancel search and or chancel repair liability insurance.
Due to the guidance of my in-laws I had a survey completed on a property in Portishead in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders tend refuse to grant a loan on such a property.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Portishead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Portishead to see if the conveyancing will be more expensive.
I am selling my home. My previous solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Portishead if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Portishead. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
As co-executor for the estate of my father I am selling a property in Monmouth but I am based in Portishead. My conveyancer (who is 250 kilometers awayhas requested that I sign a statutory declaration before completion. Can you recommend a conveyancing practitioner in Portishead to witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Portishead based