My partner and I are looking to acquire a house in Southwark and are in fact using a Southwark 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. National Westminster Bank have this morning contacted us to advise us that there is now an issue as our Southwark solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is usual for the purchasers' solicitors 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 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 solicitors to act. 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 Southwark lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
It is 10 years ago since I purchased my home in Southwark. Conveyancing solicitors have recently been instructed on the sale but I am unable to find the title documents. Is this a major issue?
Don’t worry too much. Firstly there is a chance that the deeds will be kept by the lender or they could stored with the conveyancers who handled your purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Most conveyancing in Southwark involves registered property but in the unlikely event that your property is not registered it is more problematic but is not insurmountable.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Southwark?
There are many registered licenced Conveyancers in Southwark and Solicitor firms in Southwark who provide Conveyancing services It is important to make clear that both are regulated professionals specialising in the legal work in transferring property. They may both also handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a two bedroom flat in Southwark. Do I pick up the keys to the house on the completion date from my lawyer? If this is the case, I will appoint a High Street conveyancing solicitor in Southwark?
On the day of completion you will not be required to attend the conveyancers office in Southwark. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s solicitors, and shortly after the monies have arrived, you will be invited to receive the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.
I am due to exchange contracts on my house. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being pedantic. The Southwark solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative 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.
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 quick, chain free conveyancing. Southwark is the location of the property. Can you shed any light on this issue?
Flying freeholds in Southwark are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Southwark you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southwark 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 property.
I am using a search engine for the words on line conveyancing in Southwark it reveals numerous property lawyersin the vicinity. With so much choice what is the best way to find the suitable conveyancer for the sale of my house?
The preferential way of finding the right conveyancer is through a personal referral, so enquire of colleagues and those you trust who have bought a property in Southwark or the local estate agent or mortgage broker. Fees for conveyancing in Southwark vary, so it's a good idea to obtain at least three quotes from varying types of solicitors. Be sure to secure confirmation that the fees are fixed.
I am purchasing a house and need a conveyancing solicitor in Southwark who is on the mortgage company solicitor panel. Can you recommend a Southwark or local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who conduct conveyancing in Southwark. We dont recommend any particular solicitor.