My partner and I are planning to buy a flat in Barbican and are in fact using a Barbican conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Nottingham Building Society have this evening contacted us to advise us that there is now an issue as our Barbican lawyer is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also represent 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 lender’s conveyancing panel and you may continue to use your own Barbican solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My husband and I are buying a newly constructed flat in Barbican and my solicitor is telling me that she has to the lender to reveal incentives from the developer. I am on a tight deadline to exchange contracts and I don't want to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. 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.
We hope to to buy with Loughborough BS. We have called around locally yet cant to find a Barbican conveyancing firm on the Loughborough BS approved list. Can you help?
Please do take advantage of the find a conveyancing panel solicitor tool on this page. Pick the lender and type Barbican or your location and you will be presented with numerous conveyancers offices in Barbican or by proximity to you.
We are buying a apartment in Barbican. It might be a silly question but how we can trust a conveyancer? At some point we have to put money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
This question may be naive but I am unexperienced as a first time buyer of a ground floor flat in Barbican. Do I pick up the keys to the premises on completion from my lawyer? If this is the case, I will use a local conveyancing solicitor in Barbican?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be called to collect the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
Two weeks ago we had a mortgage agreed in principle with UBS. Barbican conveyancing practitioners are instructed. What is the average time that one could expect to receive a mortgage offer from UBS?
Some lenders take longer than others. Have UBS done the valuation? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We are close to exchanging contracts on the sale of our property in Barbican and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any high street Barbican lawyer would know that there is no such problem. It does beg the question why the buyers used a factory type conveyancing practice rather than a conveyancing solicitor in Barbican. We have lived in Barbican for three years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I have justbeen informed that Wolstenholmes have been shut down. They carried out my conveyancing in Barbican for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The easiest way to see if the property is in your name, you can carry out 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 Barbican conveyancing specialists.