My fiance and I are planning to purchase a flat in Otford and have instructed a Otford conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Leeds Building Society have this morning contacted us to inform me that there is now an issue as our Otford conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is normal for the purchasers' solicitors to also act for 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 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 Otford solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
We are getting closer to an exchange on a flat in Otford and my parents have sent the 10% deposit to my property lawyer. I am now informed that as the deposit has not arrived from me my conveyancer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I am helping my step-mother sell her house in Otford. Does the conveyancing solicitor commission an EPC or should I organise this?
Following the abolition of Home Packs, EPC’s was left as a mandatory element of selling a house. An energy performance certificate should be commissioned in advance of the property being marketed. It is not something that lawyers ordinarily arrange. If you are instructing a Otford conveyancing practitioner they may be able to arrange energy assessments given their relationships with long established local providers
Is there a list of Yorkshire BS panel conveyancers in Otford on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of mortgage companies make their panel listings visible over the internet. Where you are seeking to appoint a Otford solicitor on the Yorkshire BS please use our tool.
is it true that all Otford solicitors on the Virgin Money conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be regulated by the SRA. Some mortgage companies do allow licenced conveyancers on their panel and in such a situation the firms would be overseen by the CLC.
I used Action Conveyancing several years ago for my conveyancing in Otford. Now, I need the files but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Otford of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Otford is the location of the property. What do you suggest?
Flying freeholds in Otford are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Otford you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Otford may determine 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 property.
Taking into account that I will soon spend over three hundred thousand on a house in Otford I wish to have a conversation with the solicitor concerning thehouse move ahead of instructing the firm. Can this be arranged?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you liaising with the lawyer due to be conducting your conveyancing in Otford.There is no ‘factory style conveyancing’ - each client is an important individual, not a case reference. The solicitors that we put you in touch with believe that the fees you are quoted for residential conveyancing in Otford should be the figure that you are charged.