I have just been advised by my estate agent that my Stapleton the law firm I have appointed is not on the bank Solicitor panel. What can I do to be certain that this is indeed the case?
Your first step should be to contact your Stapleton conveyancer. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
We are about to sign contracts for a freehold house in Stapleton. We encountered a stumbling block. The loan offer with Nationwide Building Society expires on 24/2/2025 but the vendors are suggesting a completion date of 26/2/2025. Is it possible to prolong the loan expiry date?
The person best placed to deal with your concern is your lawyer who should calculate whether he or she is corresponding with the mortgage company, vendor’s lawyers, estate agents or possibly all parties based on the history of your conveyancing as of today.
Are all Stapleton Conveyancing Quality Solicitors on the Lloyds conveyancing panel?
It is true that some lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
When it comes to lenders such as Barclays, do Stapleton solicitors have to pay a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I can not fathom if my mortgage offer requires a lease extension. I have telephoned my Stapleton building society branch on a couple of occasions and was advised it wasn't a problem and they will lend. My Stapleton conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the solicitor is on the lender approved list, they must adhere to the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Stapleton differ for newly converted properties?
Most buyers of new build or newly converted property in Stapleton approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Stapleton usually acquire the land, 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 conveyancers 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 used to new build conveyancing in Stapleton or who has acted in the same development.
We're novice buyers - agreed a price, but the agent has warned us that the seller will only issue a contract if we instruct their chosen lawyers as they need an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer used to conveyancing in Stapleton
It is highly unlikely the owners are behind this. If they 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 progress, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to use your own,trusted Stapleton conveyancing solicitors - not the ones that will give the negotiator at the agency a referral fee or achieve conveyancing targets pre-set by senior management.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.