My partner and I are planning to acquire a house in South Acton and have instructed a South Acton conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Skipton Building Society have this evening contacted us to inform me that they have now hit a problem as our South Acton conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal 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 solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own South Acton solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am acquiring a newly built apartment in South Acton and my conveyancer is telling me that she has to the lender to disclose incentives from the developer. I am on a tight deadline to exchange and I don't want to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have been told that property searches are a common reason for obstruction in South Acton house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in South Acton.
I am buying a new build flat in South Acton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in South Acton
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are surveyor prepared.
My husband and I are novice buyers - had an offer accepted, but the estate agent has warned us that the owners will only go ahead if we appoint their preferred solicitors as they want a ‘quick sale’. We would rather use a high street solicitor who is accustomed to conveyancing in South Acton
We suspect that the seller is not behind this demand. If they desire ‘a quick sale', taking such a hostile approach to a genuine buyer is is going to put the whole deal at risk. Contact the owners directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you will continue to instruct your preferred South Acton conveyancing lawyers - as opposed tothe ones that will provide their estate agent a referral fee or meet his conveyancing thresholds demanded by head office.
What are my options where I am not happy with the solicitor who carried out my conveyancing in South Acton?
We live in an imperfect world, and unfortunately sometimes matters do not go as planned. That being said there is recourse where you were unhappy with your conveyancing in South Acton. This varies from trying to resolve matters directly with them, through to reporting a solicitor to their governing body. If you remain aggrieved you may consider getting in touch with the Legal Ombudsman.