Unfortunately I am unable to travel far from Bedfordshire. What is the rationale as to why all Bedfordshire conveyancing practitioners are not on all mortgage company panels?
Before the recession most banks exhibited an attitude to risk which is different than today. The Financial Services Authority in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the property lawyers on your panel. Accordingly, banks have subsequently looked to extract more data from law firms about their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of firms have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum amount of transactions the mortgage companies insisted on.
At what point will exchange of contracts take place for domestic conveyancing in Bedfordshire and am I required to be at the lawyers office?
If you are local to our conveyancing solicitors in Bedfordshire you are invited in to sign the paperwork. That being said, the law practices we recommend provide countrywide coverage for conveyancing and provide just as comprehensive 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. A signed contract simply enables the firm to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bedfordshire)to be in the office at the appropriate time.
My flat in Bedfordshire is up for sale and I have a buyer. Does the property lawyer need to be required to be on the Yorkshire BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS 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 conditions fairly frequently at the moment.
How does conveyancing in Bedfordshire differ for new build properties?
Most buyers of new build or newly converted property in Bedfordshire contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Bedfordshire usually purchase the real estate, 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 conveyancing solicitors 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 Bedfordshire or who has acted in the same development.
What makes your site different to other online quote calculators when it comes to conveyancing in Bedfordshire?
At this site obtain a conveyancing quote via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Bedfordshire. As opposed to estate agents and brokerage sites we do not charge firms a commission if you select them for your conveyancing in Bedfordshire
Our lawyer in Bedfordshire has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Bedfordshire. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the bank conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the lender?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Bedfordshire conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions have to be complied with by the mortgage company conveyancing panel who has to balance acting for you and the mortgage company