My fiance and I are looking to buy a flat in Peacehaven and have appointed a Peacehaven conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Skipton Building Society have this afternoon contacted us to inform me that there is now an issue as our Peacehaven solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Peacehaven lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I have given 2 months notice to my existing landlord and must be out of my rented flat in Peacehaven by the end of next month. Conveyancing on my purchase is underway. Can I complete in 4 weeks as I wish to avoid having to find temporary accommodation?
The normal practice is not to serve notice for your tenancy until your lawyer suggests that you should. If you have not already done so, notify to your conveyancer and ask them to they seek the assistance the other lawyers, try to get a realistic time scale from them that everyone will aim to achieve
We are buying a flat and need a conveyancing solicitor in Peacehaven who is on the Leeds Building Society approved panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in Peacehaven.
I have an AIP. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would prefer to instruct a high street conveyancing solicitor in Peacehaven?
Do check but the the probability is that give you one of their panel conveyancers if you take up the "fee-free" offer. Speak to the mortgage company and see if they allow a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Peacehaven.
My solicitor has informed me that absentee landlord insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Peacehaven?
The appropriate level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between Santander and Coventry Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
Is there a list of Barclays panel solicitors in Peacehaven on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few mortgage companies make their panel listings open the public on the web. Where you are seeking to appoint a Peacehaven conveyancing practitioner on the Barclays please make the most of our facility.
I am selling my flat. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Skipton are being problematic. The Peacehaven solicitor who is on the Skipton conveyancing panel is saying indemnity insurance will be fine but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Peacehaven differ for newly converted properties?
Most buyers of new build property in Peacehaven approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Peacehaven tend to acquire the site, 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 conveyancers 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 used to new build conveyancing in Peacehaven or who has acted in the same development.