My wife and I are planning to buy a home in Shawbury and are in fact using a Shawbury conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Chelsea Building Society have this evening contacted us to inform me that they have now hit a problem as our Shawbury solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is conventional 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 Quality Scheme. Your property lawyer 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Shawbury solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
What is the difference between a licensed conveyancer and conveyancing solicitor in Shawbury
There are two types of lawyers who can perform conveyancing in Shawbury namely licenced conveyancers or solicitors. Both professionals administer the legal services that you need to complete the sale or purchase of property. They are both duty bound to perform Shawbury conveyancing to the same standards and guidelines so you may be sure that your conveyancing will be professionally administered and that all requisite procedures will be correctly adhered to.
We have agreed to purchase a house in Shawbury. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?
Given that you are obtaining a mortgage with Virgin Money your lawyer must comply with the conveyancing requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook includes minimum specifications for solar panel roof-space leases, and solicitors are required to report to Virgin Money where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Shawbury.
I am currently in the process of buying my council flat in Shawbury. I have a mortgage agreed with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I need some expedited conveyancing in Shawbury as I have a deadline to sign on the dotted line in less than 4 weeks. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save money and time?
As you are not getting a mortgage you have the choice not to have searches conducted although no lawyer would recommend that you don't. Drawing on our experience of conveyancing in Shawbury the following are examples of what can show up and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Railway Schemes,...
How does conveyancing in Shawbury differ for newly converted properties?
Most buyers of new build property in Shawbury come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Shawbury usually buy the site, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Shawbury or who has acted in the same development.
I need to instruct a conveyancing solicitor for some conveyancing in Shawbury. I happened to stumble upon a web site which looks to be the ideal solution If it is possible to get all formalities done via phone that would be preferable. Should I 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?
We have had DIP from Platform Home Loans Ltd who have advised that they will lend up to £400k. At what point do we need to instruct a lawyer for conveyancing? Shawbury is where we are .
It would be wise to appoint a conveyancer now and ask them to open a file for you. This will trigger: 1) the estate agent to send out the Sales Memorandum to the relevant parties 2) the seller’s solicitor to send out the draft contract. That being said, do not ask your lawyer to start searches until you have your valuation report from Platform Home Loans Ltd and you are happy to move forward.