My husband and I are looking to buy a home in Bollington and are in fact using a Bollington conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Yorkshire Building Society have this evening contacted us to advise us that they have now hit a problem as our Bollington solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers 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 Quality 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Bollington solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I moved into my house on 4 November and my personal details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Bollington advises it should be recorded in less than a month. Are properties in Bollington uniquely lengthy to register?
There is nothing unique about conveyancing in Bollington registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any third parties. Currently in the region of 80% of submission are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Registration takes place after the buyer has moved in to the premises so 'speed' is not typically top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
Due to the guidance of my in-laws I had a survey completed on a property in Bollington before retaining solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders may not grant a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bollington. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to appoint a conveyancing solicitor for purchase conveyancing in Bollington. I have chance upon a site which looks to be the ideal offering If it is possible to get all this stuff completed via email that would be preferable. Should I be concerned? What should out be looking out for?
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?
How much experience do your Bollington conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Bollington conveyancing lawyers help thousands of people move home every year and supported lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Bollington conveyancers have worked on recent similar cases.