My fiance and I are looking to purchase a flat in Woodley and have appointed a Woodley conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Bank of Scotland have this morning contacted us to advise us that there is now an issue as our Woodley lawyer is not on their approved list of lawyers. Please explain?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' solicitors 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 property lawyer 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 lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Woodley lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My apartment in Woodley is up for sale and I have a buyer. Will my solicitor need to be on the Aldermore conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I am buying a property and the conveyancer has referenced Chancel Repair for which the house may be liable as it falls into the area of such a church. She has recommended insurance. Is this really required for conveyancing in Woodley
Unless a prior acquisition of the premises took place after 12 October 2013 you can take it that solicitors conducting conveyancing in Woodley to remain encouraging a chancel search and or insurance against a claim.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Woodley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Woodley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Woodley you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Am I right to be suspicious about brokers that I am dealing with are recommending a national conveyancing firm rather than a local Woodley conveyancing firm?
As with lots of service providers, often recommendations from connections can be extremely useful or valuable. But there are numerous people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all recommend solicitors to retain. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You have the right to appoint your own conveyancer. However, bear in mind that many banks operate an approved list of law firms you have to use for the mortgage related work in your home move.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Woodley. I happened to chance upon a site which looks to be the ideal answer If it is possible to get all this stuff completed via email that would be preferable. Do I need to 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?