My husband and I are planning to buy a home in Redruth and are in fact using a Redruth conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. The Mortgage Works have this evening contacted us to inform me that there is now an issue as our Redruth conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also act for the mortgage company. 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 solicitor 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 bank's conveyancing panel and you may continue to use your own Redruth solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Is there a search tool that I can use to discover of the solicitor conducting my conveyancing in Redruth is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Barclays Direct thus paying £192.00 in another set of conveyancing charges.
Please do make use of the find a conveyancing panel solicitor tool on this site. Please choose the lender and type ‘Redruth’ or your preferred area and you will see a number of lawyer based in Redruth or by proximity to you.
My relative recommended that if I am buying in Redruth I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Redruth conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Redruth around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Redruth Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Redruth Education with maps and statistics, Local Amenities and other useful data about Redruth.
I used Arc property Solicitors a few years past for my conveyancing in Redruth. Now, I need the documents however 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 Redruth of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Redruth differ for newly converted properties?
Most buyers of new build premises in Redruth come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Redruth tend to purchase the real estate, 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 used to new build conveyancing in Redruth or who has acted in the same development.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Redruth. I happened to discover a site which looks to be the perfect solution If it is possible to get all this stuff done via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?