My husband and I are planning to purchase a house in Bideford and have instructed a Bideford conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Coventry Building Society have this evening contacted us to advise us that there is now an issue as our Bideford solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also act for 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 property lawyer should contact your bank 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 lender’s conveyancing panel as you are at liberty to use your preferred Bideford lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I have been recommended a conveyancing solicitor in Bideford. I I would like to check if they are on the Clydesdale conveyancing panel. Can you or the lender confirm if they are on the panel?
The first thing you should do is contact your solicitor and enquire whether they can act for the lender. Alternatively you can call Clydesdale who may be able to confirm.
We are buying a property and the solicitor has referenced Chancel Repair to which the property may be obligated to pay given it’s proximity to the area of such a church. He has recommended insurance. Is this strictly required for conveyancing in Bideford
Unless a previous purchase of the house completed post 12 October 2013 you can assume that solicitors conducting conveyancing in Bideford to remain encouraging a chancel search and or chancel repair liability policy.
Due to the input of my in-laws I had a survey completed on a property in Bideford prior to instructing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies will not issue a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bideford. Conveyancing may be slightly more expensive based on your lender's requirements.
We're novice buyers - had an offer accepted, but the agent informed us that the owners will only issue a contract if we appoint the agent's preferred solicitors as they are insisting on a ‘quick sale’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Bideford
We suspect that the owner is unaware of this request. If they want ‘a quick sale', alienating a motivated buyer is going to damage their objectives. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to appoint your preferred Bideford conveyancing solicitors - not the ones that will provide the negotiator at the agency a introducer fee or meet his conveyancing figures pre-set by corporate headquarters.
My brother is buying a shared ownership flat in Bideford. He was given a quote by the lawyer recommended by the selling agents totaling £1250 . It was seven years ago since I sold and purchased a home and it cost was £500. Have fees really escalated to that extent?
You should e-mail a few local Bideford conveyancing firms requesting prices. It is advisable to base your decision not only on cost, but on promptness and on how comprehensive the reply is.