My fiance and I are hoping to purchase a flat in Keelby and have appointed a Keelby conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Nottingham Building Society have this afternoon contacted us to inform me that there is now an issue as our Keelby solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors 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 Quality Scheme. Your property lawyer should contact your lender 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Keelby lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Despite weeks of looking the Title Certificate and documents to my home are lost. The lawyers who conducted the conveyancing in Keelby 4 years ago are no longer around. What are my next steps?
Gone are the days when you need to hold title deeds to evidence that you are the owner of your registered land or premises, as the Land Registry hold details of all registered land or property electronically.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Keelby is the location of the property. What do you suggest?
Flying freeholds in Keelby are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Keelby you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Keelby may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I be concerned that 3rd parties that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a High Street Keelby conveyancing company?
As with many service providers, often recommendations from connections can be extremely useful or valuable. Nevertheless there are lots of players in a conveyancing matter; estate agents, financial adviser and banks might all put forward lawyers to use. On occasion these solicitors might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the endorsement. You have the right to select your own lawyer. You need to be aware that the majority of banks specify a panel list of conveyancers you are obliged to use for the mortgage related work in your home move.
Are Keelby conveyancing solicitors under an obligation to the Law Society to supply transparent conveyancing costs?
Inbuilt into the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Keelby or or elsewhere in the country.