My partner and I are planning to purchase a house in Old Colwyn and have appointed a Old Colwyn conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Barclays have this evening contacted us to inform me that there is now an issue as our Old Colwyn solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard 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 property lawyer should contact your lender 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 bank's conveyancing panel and you may continue to use your own Old Colwyn solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Do lenders provide you with an approved list of Old Colwyn conveyancing solicitors? How do you know who is on the UBS conveyancing panel?
Old Colwyn conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
We are downsizing from our house in Old Colwyn and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the purchasers are using a nationwide conveyancing practice rather than a conveyancing solicitor in Old Colwyn. Having lived in Old Colwyn for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I have recentlyfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Old Colwyn for a purchase of a leasehold flat 9 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The quickest way to see if the property is in your name, 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 Old Colwyn conveyancing specialists.
Am I right to be concerned by estate agents that I am dealing with are suggesting a web based conveyancing firm rather than a High Street Old Colwyn conveyancing firm?
As with lots of professional services, often input from relatives can be extremely useful or valuable. Yet there are numerous people with a vested interest in a conveyancing deal; estate agents, mortgage brokers and lenders might all suggest lawyers to select. On occasion these solicitors might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the recommendation. You have the discretion to select your preferred conveyancer. However, bear in mind that most lenders specify a panel list of conveyancers you are obliged to use for the mortgage related work in your house move.
My father-in-law has recommend that I use his conveyancing solicitors in Old Colwyn. Should I choose my own solicitor?
No doubt the ideal way to find a conveyancing lawyer is to have feedback from friends or family who have previously instructed the firm you're considering.