My partner and I are planning to buy a house in Thurston and have appointed a Thurston conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. The Royal Bank of Scotland have this afternoon contacted us to advise us that there is now an issue as our Thurston lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the purchaser's lender. 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 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 lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Thurston solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I require conveyancing for an apartment in a fairly new development (6 years old) in Thurston. Almost all the flats are already occupied. Do I need carry out the local searches for my conveyancing in Thurston?
Where you are obtaining a mortgage, your mortgage company will insist on some (many) of the searches so you'll have no choice. If not, then Thurston conveyancing searches are for you to decide upon. Your solicitor, will ’encourage’, perhaps in the strongest possible terms, that you should have the searches done, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Thurston.
four months have gone by since my purchase conveyancing in Thurston concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
What does commercial conveyancing in Thurston cover?
Non domestic conveyancing in Thurston incorporates a broad array of guidance, given by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I have been sourcing a conveyancing lawyer in Thurston for my house move. Is it possible to review a solicitor's record with the legal regulator?
Members of the public may review published Solicitor Regulator Association (SRA) determinations stemming from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator sometimes monitor call for training reasons.
We had our mortgage approved on Monday with our bank. We have retained a local conveyancer in Thurston two days ago. A couple of hours ago, our broker contacted us saying that the bank said that we cannot use our solicitor as they aren't on their panel. As FTB's, we did not have a clue that the bank had a say Is this usual?
You are at liberty to appoint any property lawyer you prefer to use for your conveyancing in Thurston nevertheless if they are not on the your lender's panel you would have to incur additional cost so the bank can instruct their own conveyancer too. It may be possible your preferred conveyancing firm to get added to the lender panel. You can use online search facilities including lenderpanel.com to find a conveyancing solcitor in Thurston on the bank panel. You can go into your local lender branch in Thurston. They will know some good conveyancing solicitors in Thurston on the mortgage company panel.