Me and my fiance are acquiring a flat in Tilehurst. My lawyer is not on the lender solicitor list. Can I still continue with my Tilehurst conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
You have numerous choices open to you here
- Carry on with your preferred Tilehurst conveyancing practitioner but your lender will undoubtedly instruct a conveyancing practitioner on their conveyancing panel. This will result in additional fees and potential frustration.
- Get a fresh lawyer to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Appeal to your solicitor to apply to join the mortgage company panel
The property market in Tilehurst is hotting up. What can I do to expedite matters?
First, If the seller is applying pressure for your conveyancing it is advisable to make sure that your conveyancer is familiar with the area as they will make use of local connections and knowledge. It is possible that they would have handled otherproperties in the same road. You would be best advised to use a Tilehurst conveyancing solicitor. In addition, check that the conveyancing firm is on the on the approved list for your mortgage company. It is understood that just under twenty per cent of Tilehurst conveyancing transactions are frustrated or jeopardised after finding out that a purchaser’s solicitor was not on their mortgage lender’s list of approved solicitors. This can often result in the conveyancing being held up by almost three weeks. It is believed that this issue impacts approximately 100,000 home moves every year. Almost all Tilehurst conveyancing firms can not act for certain lenders so do check as early as possible.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Co-operative Conveyancing panel ahead of completing my conveyancing in Tilehurst?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I have justbecome aware that Arc property Solicitors have closed. They conducted my conveyancing in Tilehurst for a purchase of a leasehold flat 12 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The quickest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tilehurst conveyancing specialists.
Do I need to be suspicious about third parties that I am dealing with are suggesting a nationwide conveyancing firm as opposed to a local Tilehurst conveyancing firm?
As with lots of service providers, often referrals from relatives can be worth their weight in gold. Yet there are many parties with a keen interest in a conveyancing deal; estate agents, financial adviser and banks may suggest solicitors to retain. Sometimes these solicitors might be known to one of the organisations as experts in their field, but occasionally there might be a financial incentive behind the endorsement. You are free to appoint your own lawyer. However, bear in mind that some lenders specify a panel list of conveyancers you must use for the mortgage related work in your conveyancing.
My brother has suggested that I appoint his conveyancing solicitors in Tilehurst. Should I find my own conveyancer?
There are no two ways about it the ideal way to find a conveyancing lawyer is to get feedback from friends or family who have experience in using the solicitor you're considering.