My wife and I are looking to purchase a house in Barlaston and Tittensor and are in fact using a Barlaston and Tittensor conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Godiva Mortgages Ltd have this morning contacted us to inform me that they have now hit a problem as our Barlaston and Tittensor conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also represent 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 Accreditation Scheme. Your property lawyer 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Barlaston and Tittensor lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
When it comes to mortgage companies such as Kent Reliance, do Barlaston and Tittensor conveyancers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
How can we know in advance if a Barlaston and Tittensor conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Barlaston and Tittensor seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer carrying out your conveyancing.
Our sealed bid on a semi in Barlaston and Tittensor has been accepted, the sellers do nevertheless have an associated purchase. The vendors have offered on on an apartment, however it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have instructed a local conveyancing solicitor in Barlaston and Tittensor. What do I do now? At what point do I apply for the mortgage with Kent Reliance?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then valuation, Barlaston and Tittensor conveyancing search fees, etc). The first thing to do is check that your lawyer is on the Kent Reliance approved list. Concerning the next steps this very much dictated by the specifics of your case, motivation for the property and on the state of the market. In a buoyant market many purchasers will apply for the mortgage with Kent Reliance and pay for the valuation and only if it comes back ok would they ask their property lawyer to press on with the conveyancing in Barlaston and Tittensor.
Should my solicitor be raising enquiries concerning flooding during the conveyancing in Barlaston and Tittensor.
Flooding is a growing risk for lawyers dealing with homes in Barlaston and Tittensor. Some people will buy a property in Barlaston and Tittensor, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous searches that can be initiated by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Barlaston and Tittensor. The standard completed inquiry forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to discover whether the premises has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the vendor, then a purchaser could bring a compensation claim as a result of such an misleading response. The purchaser’s solicitors should also commission an enviro report. This will reveal if there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
Are there restrictive covenants that are commonly identified as part of conveyancing in Barlaston and Tittensor?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Barlaston and Tittensor. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My partner and I have had DIP from Nottingham Building Society who indicated that they will loan up to £117k. When do we need to instruct a solicitor for conveyancing? Barlaston and Tittensor is where we are .
It would be wise to appoint a conveyancing practitioner now requesting that they create a file for you. This will kickstart: 1) the selling agent to issue a Sales Memo to all parties 2) the seller’s conveyancer to send out the draft paperwork. However, do not instruct your property lawyer to start searches until you have your valuation report via Nottingham Building Society and you are willing to move forward.