My wife and I are planning to purchase a home in Yardley and are in fact using a Yardley 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. Halifax have this afternoon contacted us to inform me that there is now an issue as our Yardley conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property requiring 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 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 and you may continue to use your own Yardley solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Would the conveyancing solicitors that are recommend conduct auction conveyancing in Yardley?
There are a number of auction lawyers we can connect you with those specialising in auction conveyancing. Yardley is just one of hundreds of areas of where our lawyers have offices.
I am selling my flat in Yardley. Will my lawyer need to be required to be on the Bank of Ireland conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland 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 currently.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Yardley?
Two types of professional can carry out conveyancing in Yardley namely licenced conveyancers or solicitors. The two can administer the legal services that required to complete the sale or acquisition of property. They are both required to conduct Yardley conveyancing to the same quality and guidelines so you may be safe in the knowledge that your conveyancing will be properly carried out and that the necessary procedures will be accurately taken.
A colleague pointed out to me me that in buying a property in Yardley there could be various restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in Yardley which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Yardley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Kent Reliance have agreed my home loan in principle, my offer on a apartment in Yardley has been accepted, now what?
Your property agent will wish to know who your solicitors are (ensure that the property lawyers are on the bank’s panel). Contact Kent Reliance or the financial adviser and finish off any appropriate paperwork. Kent Reliance will appoint a valuer who will get in touch with the estate agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes about ten days to receive the mortgage offer. Kent Reliance will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Yardley.
Various online forums that I have visited warn that are a common reason for hinderance in Yardley house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Yardley.
I have todaybeen informed that Stirling Law have closed. They carried out my conveyancing in Yardley for a purchase of a freehold house 9 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest method to check if the premises 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 Yardley conveyancing specialists.