My partner and I are planning to purchase a home in Lytham and are in fact using a Lytham 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. Nationwide Building Society have this evening contacted us to inform me that they have now hit a problem as our Lytham solicitor is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is normal for the purchasers' lawyers 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 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 and you may continue to use your own Lytham solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Finally the sale completed on my house in Lytham last November but our buyer keeps e-mailing daily to moan that their conveyancer is waiting to hear from mine. What should my lawyer have done following completion?
Following your disposal your solicitor should forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your lawyer must also confirm that the legal charge in favour of the lender has been redeemed to the purchasers conveyancers. There is unlikely to be post completion formalities specific conveyancing in Lytham.
Can you clarify what the consequences are if my solicitor is expelled from the Bank of Ireland Solicitor panel ahead of completing my conveyancing in Lytham?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How can we tell if a Lytham conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Lytham obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer carrying out your conveyancing.
I have decided to exercise my right to buy my property in Lytham off the council. I have a mortgage agreed with UBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
The mortgage over my property is with Barclays for my property in Lytham. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
Your original mortgage agreement with Barclays will provide that you need their approval prior to letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. You need not do this via a Barclays conveyancing panel solicitor.
I am buying a property and the lawyer has mentioned Chancel Repair for which the house could be liable given it’s proximity to the area of such a church. He has suggested insurance. Is this strictly appropriate for conveyancing in Lytham
Unless a previous acquisition of the premises completed after 12 October 2013 you could take it that conveyancing practitioners delivering conveyancing in Lytham to continue to advocate a chancel search and or insurance against a claim.
How does conveyancing in Lytham differ for newly converted properties?
Most buyers of new build premises in Lytham approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Lytham tend to buy 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 Lytham or who has acted in the same development.