My partner and I are planning to acquire a house in Aylesbury and are in fact using a Aylesbury conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. The Royal Bank of Scotland have this morning contacted us to advise us that they have now hit a problem as our Aylesbury solicitor is not on their conveyancing panel. Is this a problem?
Where you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. 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 Accreditation Scheme. Your solicitor should contact your mortgage company 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 Aylesbury lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
At what point does exchange of contracts happen for domestic conveyancing in Aylesbury and am I required to be at the solicitors office?
Where you are near to one of the conveyancing solicitors in Aylesbury you are invited in to sign contracts. However, the lender approved solicitors we work with offer a countrywide conveyancing service and give just as detailed and professional a job for you when dealing with you digitally. The signing of the property agreement is not when everything is set in stone. Signing on the dotted line is necessary for the solicitor to address the formalities at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Aylesbury)to be in the office available at the end of the phone to exchange contracts.
Various web forums that I have visited warn that are the primary cause of hinderance in Aylesbury conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Aylesbury.
I have justfound out that Stirling Law have been shut down. They conducted my conveyancing in Aylesbury for a purchase of a freehold house 9 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest method to check if the property is in your name, 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 Aylesbury conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Aylesbury is the location of the property. What do you suggest?
Flying freeholds in Aylesbury are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Aylesbury you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aylesbury may ascertain 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 residence.
How do I identify a Aylesbury solicitor on the Leeds Building Society conveyancing panel? I have wheels and am prepared to travel upto 20kilometers to meet the solicitor.
Feel free to make use of the facility on this website. Please pick a bank and your location and you will see a number of Aylesbury conveyancing lawyers located nearest you. We have listed some Aylesbury conveyancing firms at the bottom of this page and you can contact them to verify whether they are on the Leeds Building Society approved list