My fiance and I are hoping to buy a property in Killay and have appointed a Killay conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Barnsley Building Society have this morning contacted us to advise us that there is now an issue as our Killay conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is usual 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 Accreditation 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 lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Killay 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.
Completed the sale of my flat in Killay last February but the buyer keeps whats apping daily to moan that his lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your house sale your conveyancer should forward the transfer deeds and all additional paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer should also send confirmation that the mortgage has been repaid to the purchasers conveyancers. There is unlikely to be post completion procedures unique to conveyancing in Killay.
We're in Killay, FTBs purchasing with a mortgage (lender is TSB , and our solicitor is on the TSB conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I require fast conveyancing in Killay as I am under pressure to complete in less than one month. Fortunately I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a cash buyer you have the choice not to have searches carried out although no law firm would advise that you don't. With plenty of history conveyancing in Killay the following are examples of what can crop up and adversely impact market value: Enforcement Actions, Overdue Charges, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly identified as part of conveyancing in Killay?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Killay. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My step-father has urged me to use his conveyancers in Killay. Do I follow his guidance?
No doubt it’s preferable to find a conveyancing lawyer is to seek referrals from friends or family who have used the firm that you are are thinking of instructing.