My partner and I are hoping to purchase a house in Morden Park and have instructed a Morden Park conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Santander have this evening contacted us to advise us that they have now hit a problem as our Morden Park solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also represent 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 lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Morden Park solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are acquiring our first house. Our conveyancer has texted usto ask if we want to order extra conveyancing searches. We are really unsure what's recommended for conveyancing in Morden Park
The range of Morden Park conveyancing searches should be dictated entirely on the premises, the location, the probability of any of these risks, your familiarity of the region and risks, your general appetite to risk. What matters is that you adequately understand what information each search could give you. You may then make a decision if you personally think you need that information. If in doubt, ask your solicitor to guide you.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would prefer to appoint a Morden Park based conveyancing firm?
You should check but the the probability is that appoint one of their panel conveyancers where you take up the "fee-free" offer. Call the bank to determine if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Morden Park.
If you had a top tip for selecting a conveyancing solicitor in Morden Park what would it be?
It would be unwise to be swayed by the lowest Morden Park conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I have paid off my mortgage with Co-operative. I assume I don't need a Morden Park property lawyer on the Co-operative panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
Intending to buy a maisonette in Morden Park. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Morden Park lawyer is on the Leeds Building Society conveyancing panel.
Hoping to buy a property located in Morden Park and I am already nervous. I couldn't find anything specific about Morden Park. Conveyancing will be needed in due course but do you know about the Morden Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Morden Park. In the meantime here are some basic statistics that we found
My wife and I have recently appointed a conveyancing solicitor in Morden Park. I need to find out if they are on the bank's conveyancing panel. Can you assist?
It’s a good idea call your solicitor to enquire if they are on the lender's approved list. If that does not help call us and we can make some checks for you. If they are not on the lender panel we can certainly arrange a quality conveyancing solicitor in Morden Park on the approved list for your lender.