My partner and I are looking to buy a flat in Westbury and have instructed a Westbury conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Coventry Building Society have this evening contacted us to inform me that they have now hit a problem as our Westbury conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers 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 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 solicitors to act. 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 Westbury lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
AssumingI was to buy a simple residential homein Westbury for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Westbury?
The only reduction in fees you would achieve is the disbursement for searches. Your property lawyer still be obliged to do everything else - money laundering, communicating with the sellers conveyancing practitioner, stamp duty submission, register the ownership etc. You might save a bit for them not needing to register a charge however it will not be a lot.
When does exchange of contracts happen for residential conveyancing in Westbury and do I need to attend the solicitors branch?
Where you are round the corner to one of the conveyancing solicitors in Westbury you are welcome to attend to sign contracts. That being said, the firms we recommend offer a countrywide conveyancing service and give just as detailed and professional a job for you when communicating with you electronically. The executing of the contract is not the point of no return. A signed contract is just a prerequisite for the firm to exchange contracts at the suitable time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Westbury)to be in the office available at the end of the phone to exchange contracts.
I have todaydiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Westbury for a purchase of a leasehold flat 12 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest method to check if the premises is registered to you, you can carry out 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 Westbury conveyancing specialists.
I'm converting the mortgage on my primary home to a BTL mortgage with Santander and intend to use the remaining equity towards another house. The neighborhood we are looking at is Westbury. Will your conveyancers be able to act for the two lenders and tie in the transactions?
Make use of our comparison tool on this site to be sure that the lawyers are on the appropriate lender panels. Assuming that they are your conveyancer should be able to simultaneously deal with the two deals but you should talk with you solicitor and make apparent your desired outcome and requirements.
I need to retain a conveyancing solicitor for my conveyancing in Westbury. I happened to discover a site which seems to have the perfect solution If there is a chance to get all the legals done via phone that would be preferable. Should I be concerned? What should out be looking out for?
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?