we are a couple who intend to purchase a newbuild apartment in Alcester with a residential mortgage from Coventry Building Society.We have a Alcester conveyancing lawyer but Coventry Building Society says he's not listed on their "panel". It seems we are left with no choice but to instruct a Coventry Building Society panel lawyer or retain our high street solicitor and fork out for a Coventry Building Society panel lawyer to represent them. This seems very unfair; Can we not simply insist that Coventry Building Society use our lawyer?
No, not really. The loan offered to you is subject to its various provisions, one of which will be that lawyers needs to be on the Coventry Building Society conveyancing panel. in the past, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Coventry Building Society
Are all Alcester Conveyancing Quality Solicitors on the UBS conveyancing list of approved practices?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
Is it the case that all Alcester conveyancing solicitors on the Principality conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Principality conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
After what feels like an age I have had an offer on a maisonette in Alcester accepted, the sellers do however have an associated purchase. The owners have offered on a flat, but it’s not yet tied up, and are looking at other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Alcester. What should be my next step? At what stage should I apply for the mortgage with Kent Reliance?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of one thousand pounds, then survey, Alcester conveyancing search charges, etc). The first thing to do is ensure that your conveyancing practitioner is on the Kent Reliance conveyancing panel. Concerning the next steps this very much depends on the uniqueness of your case, attraction to the property and on the state of the market. In a rising market the majority of buyers would apply for the mortgage with Kent Reliance and arrange for the valuation and only if it was satisfactory would they request their lawyer to press on with searches.
The deeds to our house can not be found. The conveyancers who dealt with the conveyancing in Alcester 10 years ago have long since closed. What do I do?
Assuming you have a registered title the details of your ownership will be evidenced by the Land Registry under a Title Number. It is possible to execute a search at the Land Registry, locate your house and get up to date copies of the Registered Entries for a small fee. Where the property is Leasehold then the Land Registry will in most cases hold a file copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
How does conveyancing in Alcester differ for newly converted properties?
Most buyers of new build premises in Alcester approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Alcester usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Alcester or who has acted in the same development.
My uncle has encouraged me to instruct his conveyancing solicitors in Alcester. Should I find my own property lawyer?
No doubt it’s preferable to find a conveyancing solicitor is to get guidance from friends or family who have actually used the conveyancer that you are contemplating using.
I'm buying a apartment in Alcester. I have found my conveyancer's company on the Law Society's list, but I can't see my conveyancer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the practice must be listed by the regulator. Provided there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unqualified staff.