My wife and I are planning to acquire a property in Topsham and have instructed a Topsham conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Clydesdale have this afternoon contacted us to advise us that there is now an issue as our Topsham lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also act for 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 solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Topsham 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.
Can conveyancing in Topsham to be finalised in under 28 days?
First, If the seller is applying a tight deadline to complete it is advisable to make sure that your conveyancer is familiar with the location as they will make use of local connections and know-how. It is possible that they could have handled otherhouses in the same neighbourhood. You would be best advised to use a Topsham conveyancing solicitor. In addition, double check that the conveyancing firm is on the lender panel. It is claimed that 18% of Topsham conveyancing deals are held up or derailed after finding out that a buyer’s lawyer was not on their banks member panel. In many cases this discovery resulted in the legal transfer of property being frustrated by as much as three weeks. It is believed that this issue affects in the region of one hundred thousand home moves annually. Almost all Topsham conveyancing practices can not act for certain mortgage companies so do check at the outset.
When will exchange of contracts occur in sale conveyancing in Topsham and do I need to attend the conveyancers office?
If you are round the corner to one of the conveyancing solicitors in Topsham you are welcome to attend to sign the paperwork. However, the firms we work with supply countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when dealing with you digitally. The executing of the purchase agreement is not the point of no return. A signed contract simply enables the conveyancer to exchange contracts at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Topsham)to be in the office at the appropriate time.
I know that there are debates on Chancel Insurance on online forums. Do I require this when purchasing a property in Topsham? or Apparently there is a law dating back centuries that could mean that house owners living in a parish church boundary will be compelled to pay for repairs towards the chancel within the church. Is this a legitimate concern for conveyancing in Topsham?
Unless a previous acquisition of the property completed post 12 October 2013 you could take it that lawyers handling conveyancing in Topsham to remain encouraging a chancel search and or insurance against a claim.
I have todaydiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Topsham for a purchase of a freehold house 9 months ago. How can I establish that the property is in my name in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Topsham conveyancing specialists.
I need to retain a conveyancing solicitor for leasehold conveyancing in Topsham. I've discover a web site which appears to be the ideal solution If it is possible to get all the legals done via email that would be preferable. Should I be concerned? What are the potential pitfalls?
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?