My wife and I are planning to acquire a house in Piccadilly and are in fact using a Piccadilly conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Yorkshire Building Society have this morning contacted us to advise us that there is now an issue as our Piccadilly solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is conventional 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 Quality 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 lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Piccadilly 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.
We are planning to acquire a flat and need a conveyancing solicitor in Piccadilly who is on the Leeds Building Society conveyancing panel. Can you recommend a local conveyancing firm?
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 Piccadilly.
Just bought a terraced house in Piccadilly , What is the estimated time for the Land Registry to record my ownership? My Piccadilly conveyancing solicitor has been painfully slow, so I want to be sure the registration is concluded.
As far as conveyancing in Piccadilly registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timeframes can vary subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any 3rd persons or bodies. As of today roughly 80% of submission are fully addressed within two weeks but occasionally there can be longer delays. Registration is effected once the purchaser is living at the premises so an expedited registration is not typically an essential issue but if there is a degree of urgency associated with the registration then you or your solicitor should speak with the land registry and explain the circumstances.
How does conveyancing in Piccadilly differ for newly converted properties?
Most buyers of new build property in Piccadilly approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Piccadilly usually buy 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 conveyancing solicitors 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 accustomed to new build conveyancing in Piccadilly or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Piccadilly is where the house is located. What do you suggest?
Flying freeholds in Piccadilly are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Piccadilly 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 Piccadilly 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 residence.
Hoping to buy a property located in Piccadilly and I am already nervous. I couldn't find anything specific about Piccadilly. Conveyancing will be needed in due course but do you know about the Piccadilly area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Piccadilly. In the meantime here are some basic statistics that we found