My husband and I are planning to acquire a home in Selsdon and are in fact using a Selsdon conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Scotland have this evening contacted us to advise us that they have now hit a problem as our Selsdon lawyer 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 represent 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 Accreditation Scheme. Your solicitor 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Selsdon lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Why do I have to pay up front when it comes to conveyancing in Selsdon?
If you are buying a property in Selsdon your lawyer will request that you to provide them with monies to cover the the cost of the conveyancing searches. Generally this is requested to cover the fees of the conveyancing searches. If any down payment is payable against the sale price then this will be asked for immediately in advance of contracts are exchanged. The closing balance that is needed should be transferred shortly before completion.
I am helping my aunt sell her flat in Selsdon. Does the conveyancer commission the energy assessment or do I organise this?
After the abolition of Home Information Packs, energy assessments was retained a compulsory part of moving house. An energy assessment must be to hand in advance of the property being marketed. This is not as aspect of the sale process that law firms normally organise. If you are instructing a Selsdon conveyancing lawyer they may be willing to arrange energy performance certificates given their contacts with reputable Selsdon providers
Is it the case that all Selsdon CQS (Conveyancing Quality Scheme) solicitors are on the RBS conveyancing list of approved solicitors?
A selection of banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
Is it the case that all Selsdon solicitor firms on the Yorkshire BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be governed by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel and in that case the firms would be overseen by the CLC.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a simple, no chain conveyancing. Selsdon is where the house is located. What do you suggest?
Flying freeholds in Selsdon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Selsdon you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Selsdon may ascertain 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.
Do I need to be suspicious about estate agents that I am dealing with are suggesting an internet conveyancing firm as opposed to a local Selsdon conveyancing firm?
As is the case with many service providers, often input from relatives can be worth their weight in gold. Nevertheless there are many players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest conveyancers to select. On occasion the lawyers might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the recommendation. You are at liberty to select your preferred lawyer. However, bear in mind that most lenders specify a panel list of lawyers you must use for the mortgage related work in your transaction.
As co-executor for the will of my uncle I am selling a property in Monmouth but I am based in Selsdon. My lawyer (approximately 250 miles from mehas requested that I execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Selsdon to witness this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are located in Selsdon