My fiance and I are looking to buy a home in Crowland and are in fact using a Crowland conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Yorkshire Building Society have this morning contacted us to advise us that they have now hit a problem as our Crowland lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also act for 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 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 solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Crowland lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Due to complete my purchase in Crowland next Thursday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not specific to conveyancing in Crowland.
My brother-in-law has suggested I instruct a conveyancing solicitor in Crowland. I need to find out whether they are on the Accord Mortgages Ltd approved list of lawyers. Could you advise?
You should e-mail the solicitor and enquire if they are on the lender panel. Otherwise you should get in touch with Accord Mortgages Ltd who may be able to help.
We have a mortgage agreed in principle with Leeds Building Society. Crowland conveyancing practitioners were appointed. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
There is no definitive answer here. Have Leeds Building Society conducted the survey? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I can not fathom if my lender requires a lease extension. I have called my Crowland building society branch on numerous occasions and was advised it wasn't an issue and they will lend. My Crowland conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your conveyancer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase flat in Crowland. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Crowland conveyancer is on the Skipton conveyancing panel.
I used Action Conveyancing a few years ago for my conveyancing in Crowland. I now require my file however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Crowland of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
We're first time buyers - agreed a price, yet the estate agent told us that the owners will only move forward if we use the agent's chosen lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer used to conveyancing in Crowland
We suspect that the owner is unaware of this request. If they require ‘a quick sale', turning down a motivated buyer is counter productive. Try to communicate with the vendors directly and explain that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Crowland conveyancing lawyers - rather thanthe ones that will provide their estate agent a referral fee or meet his conveyancing figures demanded by corporate headquarters.