My partner and I are planning to acquire a house in Hurst Green and have appointed a Hurst Green conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. HSBC Bank have this morning contacted us to inform me that they have now hit a problem as our Hurst Green solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal 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 Quality 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 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 Hurst Green 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.
Can I be sure that the Hurst Green conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Hurst Green getting recommendations is a sensible 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 suggest that you speak with the solicitor conducting your transaction.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Hurst Green conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money conducted the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
After shopping around on the internet I have found a Hurst Green lawyer having made sure that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Hurst Green surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Should I be wary about brokers that I am dealing with are suggesting a nationwide conveyancing firm rather than a local Hurst Green conveyancing practice?
As is the case with lots of professional services, often suggestions from family and friends can be extremely useful or valuable. Yet there are lots of people with a vested interest in a conveyancing deal; estate agents, financial adviser and lenders may recommend solicitors to use. Sometimes the solicitors might be known to one of the organisations as being good in their field, but occasionally there may be a financial incentive behind the endorsement. You are at liberty to choose your own lawyer. Don't forget that many banks operate an approved list of law firms you are obliged to use for the mortgage related work in your house move.
I am using a search engine for the term cheap conveyancing in Hurst Green it reveals numerous solicitorsin the vicinity. With so much choice what is the best way to find the right conveyancing solicitor for purchase transaction?
The ideal way of seeking the right conveyancer is through a trusted recommendation, so ask colleagues and those you trust who have acquired a property in Hurst Green or the reputable estate agent or financial adviser. Fees for conveyancing in Hurst Green vary, so it's advisable to obtain at least three estimates from varying types of property lawyers. Make sure that you clarify that the fees are fixed.
What is the reason for my lawyer requiring numerous items of ID ahead of starting selling or purchasing a property in Hurst Green?
Hurst Green lawyers are obliged by the Law Society, Solicitors Regulation Authority, HM Land Registry and current Money Laundering Regulations to record that the have verified the identity of their clients. It will also be a condition of your bank if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, NI number and date of birth.