My fiance and I are hoping to buy a home in Highbridge and have instructed a Highbridge conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Nationwide Building Society have this evening contacted us to inform me that there is now an issue as our Highbridge 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 represent 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Highbridge lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Do I need to attend the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Highbridge so that I can pop in to their offices if required.
Nowadays approved lawyers for lenders conduct their communications via Royal Mail, internet or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. Nevertheless you can check if you have the option of going to the offices of your conveyancing lawyer if you prefer.
I have been told that property searches are the number one reason for obstruction in Highbridge house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Highbridge.
I have todayfound out that Stirling Law have closed. They conducted my conveyancing in Highbridge for a purchase of a leasehold flat 9 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The quickest way to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Highbridge conveyancing specialists.
Due to the advice of my in-laws I had a survey completed on a property in Highbridge in advance of instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some lenders may refuse to give a loan on such a premises.
It varies from the lender to lender. Santander has different instructions from Halifax. If you contact us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Highbridge. Conveyancing will be smoother if you use a solicitor in Highbridge especially if they are accustomed to such properties in Highbridge.
My husband and I are first time buyers - had an offer accepted, yet the selling agent has warned us that the owners will only move forward if we instruct their chosen solicitors as they are insisting on a ‘quick sale’. We would rather use a family solicitor with experience of conveyancing in Highbridge
We suspect that the seller is unaware of this demand. If they want ‘a quick sale', taking such a hostile approach to a serious buyer is not the way to achieve this. Bypass the agents and go straight to the sellers and make the point that (a)you are serious buyers (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you intend to appoint your own,trusted Highbridge conveyancing lawyers - not the ones that will earn their negotiator at the agency a introducer fee or hit his conveyancing targets pre-set by senior management.