My wife and I are hoping to buy a flat in Darley Abbey and have instructed a Darley Abbey conveyancing practice. 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. The Mortgage Works have this evening contacted us to advise us that they have now hit a problem as our Darley Abbey lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is standard 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 Quality Scheme. Your property lawyer 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 bank's conveyancing panel as you are at liberty to use your preferred Darley Abbey lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Our Darley Abbey conveyancer has spotted a difference between the surveyor’s assumptions in the valuation report and what is in the title deeds. My lawyer informs me that he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action right?
Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am buying a property and require a conveyancing solicitor in Darley Abbey who is on the Nottingham Building Society conveyancing. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nottingham Building Society in certain locations such as Darley Abbey. We dont recommend any particular firm.
How does conveyancing in Darley Abbey differ for new build properties?
Most buyers of new build premises in Darley Abbey approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Darley Abbey typically 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 Darley Abbey or who has acted in the same development.
In my capacity as executor for the will of my grandfather I am selling a property in Neath but I am based in Darley Abbey. My solicitor (approximately 300 kilometers from merequires that I execute a stat dec prior to the transaction finalising. Could you suggest a conveyancing solicitor in Darley Abbey who can witness this legal document for me?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are based in Darley Abbey
My fiance and I are purchasing a three room maisonettein Darley Abbey with a mortgage from a bank. We like our solicitor in Darley Abbey yet our lender says she’s not on their "panel". It seems we have little choice but to instruct one of the our mortgage company panel solicitors or stay with our Darley Abbey solicitor and incur the extra legals for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The lender home loan issued is subject to conditions, one of which will be that solicitors will on the bank's conveyancing panel. in the past, most banks had open panels, including most conveyancing solicitors in Darley Abbey : 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your bank.