I am purchasing residence in Chippenham. My Conveyancer is not on the lender approved panel. Am I still permitted to continue with my Chippenham conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
You have a number of options available to you here
- Complete the purchase with your preferred Chippenham solicitor but your lender will need to retain a solicitor from their approved panel. The net result is additional cost together with potential delay.
- Choose a fresh conveyancer to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Convince your solicitor to pull out all the stops to get accepted on the bank’s panel of solicitors
The Chippenham conveyancing firm handling our Chippenham conveyancing has uncovered a difference when comparing the assumptions in the home valuation survey and what is revealed within the title deeds. My lawyer says that he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach appropriate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
What happens if my lawyer’s firm is removed from the HSBC Conveyancing panel ahead of completing my conveyancing in Chippenham?
The first thing to point out is that, 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 at a cost.
I decided to have a survey done on a house in Chippenham in advance of appointing solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies tend not issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chippenham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chippenham to see if the conveyancing costs will increase in light of this.
How do I search for a Chippenham conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to twentykilometers to attend the solicitor.
You can use the find a conveyancing panel search on this website. Please choose the lender and your location, in this case Chippenham and you will see a number of lawyer located nearest Chippenham. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.