My fiance and I are hoping to buy a house in Tidworth and have instructed a Tidworth conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Coventry Building Society have this afternoon contacted us to advise us that there is now an issue as our Tidworth lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is conventional 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 Quality Scheme. Your solicitor 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 as you are at liberty to use your preferred Tidworth lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
The property market in Tidworth is heating up. What can I do to expedite the legal process?
In a situation where you are under a tight deadline to complete we would recommend that your lawyer is familiar with the area as they will benefit local relationships and know-how. It is possible that they would have handled otherproperties in the same street. You would be best advised to use a Tidworth conveyancing firm. Second, check that the lawyer is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of Tidworth conveyancing deals are held up or jeopardised after finding out that a purchaser’s conveyancer was not on their mortgage lender’s panel. In many cases this discovery resulted in the legal transfer of property being frustrated by almost 21 days. It is said that this issue impacts in the region of one hundred thousand home sales every year. Almost all Tidworth conveyancing practices can not represent certain mortgage companies so do check as early as possible.
It is is a decade since I purchased my house in Tidworth. Conveyancing lawyers have now been appointed on the sale but I can't locate the deeds. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be retained by your mortgage company or they may be in the possession of the lawyers who acted in your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Almost all conveyancing in Tidworth involves registered property but in the unlikely event that your property is not registered it is more problematic but is resolvable.
I am looking to buy a flat and require a conveyancing solicitor in Tidworth who is on the National Westminster Bank conveyancing. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for National Westminster Bank in certain locations such as Tidworth. We dont recommend any particular firm.
I note that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when purchasing a residence in Tidworth? or I am told that there is historic law that could mean that house owners living in a parish church boundary may be liable to pay for maintenance towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Tidworth?
Unless a previous purchase of the house completed post 12 October 2013 you may expect solicitors delivering conveyancing in Tidworth to remain recommending a chancel search and or chancel repair liability insurance.
How does conveyancing in Tidworth differ for newly converted properties?
Most buyers of new build premises in Tidworth come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Tidworth tend to acquire 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 property lawyers 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 Tidworth or who has acted in the same development.