we are a couple who decided to purchase a purpose built flat in Cheltenham with a residential mortgage from Leeds Building Society.We use our Cheltenham conveyancing lawyer but Leeds Building Society advised that her practice is not listed on their approved list of firms. We have to appoint a Leeds Building Society panel firm or retain our preferred solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Leeds Building Society use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, one of which will be that lawyers needs to be on the Leeds Building Society approved list. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Leeds Building Society
We are purchasing a property in Cheltenham. It might be a silly question but how we can trust a solicitor? At some point we will need to put funds into their account. What protection do we have from them run away with our deposit?
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.
Is it the case that all Cheltenham conveyancing solicitors on the Lloyds conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Lloyds conveyancing panel they would need to be overseen by the SRA. Some lenders do permit licenced conveyancers on their panel and in such a situation the firms would be governed by the CLC.
UBS have agreed my mortgage in principle, my offer on a apartment in Cheltenham has been agreed to, what happens next?
The property agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Call up UBS or the broker and finalise any relevant forms. UBS will appoint a valuer who will get in touch with the selling agent or seller to book an appointment. Once carried out (assuming no problems) it takes on average a week to get a mortgage offer. UBS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Cheltenham.
I need some quick conveyancing in Cheltenham as I am faced with pressure to exchange contracts within one month. A mortgage is not required. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are not obtaining a home loan you have the choice not to do searches although no law firm would advise that you don't. Drawing on years of experience of conveyancing in Cheltenham the following are examples of issues that can appear and therefore impact future saleability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Road Schemes,...
I decided to have a survey done on a property in Cheltenham before instructing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some banks will not grant a mortgage on this type of house.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cheltenham. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it possible to swap solicitor as I need to retain one who is on the The Royal Bank of Scotland conveyancing panel. I had appointed a local conveyancing solicitor in Cheltenham five minutes from me but she is not accepted by The Royal Bank of Scotland
It would be our pleasure to help you find a conveyancing solicitor in Cheltenham on the The Royal Bank of Scotland panel. Please note that the law firms that we list do not pay us commission if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Cheltenham. Using search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Cheltenham.
My conveyancers in Cheltenham have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the bank. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the bank directly.