Unfortunately I am unable to travel far from Temple. What is the rationale as to why all Temple conveyancing practitioners are not on all bank panels?
Mortgage companies point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in banks and building societies pruning a number of firms from their official list of approved lawyers .
Can conveyancing in Temple to be done in less than 3 weeks?
In a situation where the seller is applying pressure to exchange it is advisable to make sure that your solicitor is familiar with the area as they will benefit local relationships and know-how. It is possible that they could have conducted otherhouses in the same street. Therefore consider using a Temple conveyancing firm. Second, check that the lawyer is on the lender panel. It is said that 18% of Temple conveyancing deals are frustrated or derailed after discovering a purchaser’s lawyer was not on their mortgage lender’s panel. In many cases this discovery resulted in the buying process being held up by as much as three weeks. It is understood that this issue affects approximately 100,000 home sales every year. Almost all Temple conveyancing practices can not represent certain lenders so do check at the outset.
Do I have to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Temple so that I can pop in to their offices when needed.
Nowadays approved lawyers for lenders carry out their communications through the post, e-mail or over phone calls. This enables them to conduct the legal work for your home move regardless of where you live in England or Wales. However you can see if you have the option of going to the offices of your conveyancing lawyer if you prefer.
How does conveyancing in Temple differ for newly converted properties?
Most buyers of new build residence in Temple approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because developers in Temple typically buy the real estate, 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 accustomed to new build conveyancing in Temple or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Temple in advance of retaining lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some lenders will refuse to grant a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Temple. Conveyancing will be smoother if you use a solicitor in Temple especially if they are accustomed to such properties in Temple.
Should I use a Temple conveyancing solicitor based in the area that I am buying? I have an old university friend who can deal with the legal formalities however his firm is located a couple of hundredmiles away.
The benefit of a high street Temple conveyancing practice is that you can pop in to execute documents, present your ID and pester them where appropriate. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were impressed that should surpass using an unfamiliar Temple conveyancing lawyer solely due to them being round the corner.