My partner and I are hoping to purchase a flat in Chepstow and have instructed a Chepstow conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barnsley Building Society have this afternoon contacted us to advise us that there is now an issue as our Chepstow solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also act for 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 Chepstow lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Just acquired a semi-detached house in Chepstow , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Chepstow conveyancing solicitor has been very slow, so I want to be sure the land registry aspects are concluded.
As far as conveyancing in Chepstow is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can adjust subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any interested persons or bodies. As of today roughly three quarters of such applications are completed within 12 days but some can be subject to longer delays. Registration is effected after the purchaser has moved in to the property thus an expedited registration is not always top priority yet where there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
Due to the encouragement of my in-laws I had a survey completed on a house in Chepstow before appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some banks tend not grant a loan on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. If you contact us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chepstow. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are first time buyers - had an offer accepted, but the property agent advised that the owners will only issue a contract if we instruct the agent's recommended solicitors as they need an ‘expedited deal’. We would rather use a local solicitor with experience of conveyancing in Chepstow
We suspect that the owner is not behind this demand. If they require ‘a quick sale', turning down a genuine buyer is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make sure they understand (a)you are serious buyers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your preferred Chepstow conveyancing firm - not the ones that will provide the estate agent a commission or achieve conveyancing targets demanded by HQ.
Your search tool is useful but there are many lawyers listed near Chepstow being on the mortgage company conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for our mortgage company?
We are not in the business of recommending one firm above another as the right Chepstow conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Chepstow knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..