My husband and I are planning to purchase a flat in Oldland and are in fact using a Oldland conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Leeds Building Society have this evening contacted us to advise us that they have now hit a problem as our Oldland conveyancer is not on their approved list of lawyers. 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 Accreditation 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 and you may continue to use your own Oldland solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
We are purchasing a 3 bedroom semi in Oldland. Our aim is to an extension at the rear at the house.Will the conveyancing process involve checks to determine if these works are permitted?
Your conveyancer should review the registered title as conveyancing in Oldland can on occasion reveal restrictions in the title deeds which prohibit certain alterations or necessitated the consent of another owner. Many works require local authority planning consent and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
I am buying a property in Oldland. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Coventry BS your lawyer must check the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook contains minimum provisions for solar panel roof-space leases, and solicitors are required to report to Coventry BS where a lease does not meet these specifications. The specifications relate to the installation of panels on properties nationwide and is not isolated to Oldland.
I was told two weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Oldland is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
We are purchasing a property and the lawyer has identified Chancel Repair to which the property may be liable given it’s proximity to the area of such a church. She has mentioned insurance. Is this really warranted for conveyancing in Oldland
Unless a previous purchase of the premises completed post 12 October 2013 you may expect lawyers carrying out conveyancing in Oldland to remain recommending a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Oldland is where the house is located. What do you suggest?
Flying freeholds in Oldland are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Oldland you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Oldland may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am 17 days into a freehold purchase having been recommend to solicitors by the selling agent to do our conveyancing in Oldland. I am not happy. Could you you assist me in finding new solicitors?
They would need to be really bad in order to consider replacing them. Has your mortgage been sent? If so you need to make them aware of the new contact details and have the offer are re-issued. Your solicitor ideally needs to be on the mortgage company approved list to avoid escalating charges and complications. So that should be your first question of the new conveyancers. The find a solicitor tool will help you find a lender approved lawyer for your home move in Oldland
Whilst your website is a good idea there are many lawyers listed near Oldland being on the lender conveyancing panel. Can you recommend a specific firm on the conveyancing panel for our bank?
We do not recommend specific Oldland firms as the right Oldland conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Oldland knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..