My husband and I are looking to buy a flat in Hedon and have instructed a Hedon 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. Norwich and Peterborough Building Society have this morning contacted us to inform me that they have now hit a problem as our Hedon conveyancer is not on their conveyancing panel. Is this a problem?
Where you are buying a property needing a mortgage it is conventional for the purchasers' lawyers 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 Quality Scheme. Your solicitor 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 and you may continue to use your own Hedon solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Our Hedon lawyer has identified a discrepancy when comparing the assumptions in the home valuation report and what is revealed within the title deeds. My solicitor says that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications 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 you.
My brother-in-law has suggested I instruct a conveyancing solicitor in Hedon. I I would like to check if they are accepted on the Bank of Scotland approved list of lawyers. Can you assist?
You should e-mail the lawyer and enquire if they are on the lender panel. Otherwise you should get in touch with Bank of Scotland who may be able to assist.
Will our conveyancer be making enquiries concerning flooding as part of the conveyancing in Hedon.
Flooding is a growing risk for conveyancers carrying out conveyancing in Hedon. Plenty of people will purchase a property in Hedon, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a various checks that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Hedon. The standard property information forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to find out whether the premises has suffered from flooding. In the event that the residence has been flooded in past which is not notified by the seller, then a buyer could issue a legal claim for losses resulting from an misleading answer. The purchaser’s conveyancers should also carry out an enviro report. This will reveal whether there is any known flood risk. If so, additional inquiries will need to be initiated.
I used Arc property Solicitors several years past for my conveyancing in Hedon. Now, I need my documents but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Hedon of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Are there any specific advantages to instructing a high street conveyancing practitioner in Hedon
Plenty of house movers in Hedon opt for a local conveyancer so that they can attend the firm’s offices in the event that they have problems, and to collect mortgage deeds rather taking the chance in relying on the Royal Mail.
There is a marginal edge in selecting a conveyancing practitioner local to the house you are purchasing, due to the in-depth knowledge of the locality and potential local concerns - however this is moot. Many conveyancers carry out their work via the internet and may be almost anywhere.