My wife and I are hoping to acquire a flat in Glastonbury and have instructed a Glastonbury conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Barclays Direct have this evening contacted us to advise us that there is now an issue as our Glastonbury conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent 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 bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Glastonbury solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Our lawyer has discovered a a problem with the lease for the property we are purchasing in Glastonbury. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the mortgage company is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
Have purchased a a semi-detached house in Glastonbury , how long should it take for the Land Registry to register my proprietorship? My Glastonbury conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are concluded.
There is nothing unique about conveyancing in Glastonbury registration formalities. As opposed to being determined by geographic area, timeframes can adjust according to the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. As of today roughly 80% of such applications are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Registration takes place once the buyer is living at the property therefore an expedited registration is not typically primary concern but 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 the application to be prioritised.
How do I search for a Glastonbury law firm on the Barclays conveyancing panel? I am a keen cyclist and am willing to travel upto 25miles to meet the lawyer.
Feel free to make use of the facility on this page. Please select a mortgage company and your location and you will see a number of Glastonbury conveyancing lawyers based on proximity. We have listed some Glastonbury conveyancing firms towards the end of this page and you can ring them to check if they are on the Barclays approved list
I am using a search engine for the words conveyancing in Glastonbury it brings up numerous property lawyerslocally. With so much choice what is the best way to find the right property lawyer for my move?
The preferential method of choosing the right conveyancer is via personal recommendation, so seek the guidance of colleagues and family who have purchased a property in Glastonbury or a reputable estate agent or mortgage broker. Charges for conveyancing in Glastonbury vary, so it's advisable to obtain a minimum of three fee calculations from different law firms. Dont forget to clarify that the fees are fixed.