My husband and I are buying a 1 bedroom apartment in Westbury On Trym with a mortgage. We have a Westbury On Trym lawyer, but the mortgage company says he's not on their "panel". It seems we have no option but to select one of the bank panel firms or retain our Westbury On Trym conveyancing practitioner and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Westbury On Trym conveyancing solicitor to apply to be on the conveyancing panel.
My grandson is purchasing a newly built flat in Westbury On Trym with a home loan from Virgin Money. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When does exchange of contracts take place for purchase conveyancing in Westbury On Trym and do I need to attend the lawyers branch?
Where you are in close proximity to our conveyancing solicitors in Westbury On Trym you are welcome to attend to sign contracts. That being said, the law practices we work with supply countrywide coverage for conveyancing and give just as detailed and professional a job for you when communicating with you electronically. The signing of the contract is not the critical part. Signing on the dotted line is necessary for the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Westbury On Trym)to be in the office available at the end of the phone to exchange contracts.
Have completed on a a detached house in Westbury On Trym , how long should it take for the Land Registry to record my ownership? My Westbury On Trym conveyancing solicitor has been painfully slow, so I want to be sure the registration is dealt with.
There is nothing unique about conveyancing in Westbury On Trym registration formalities. Rather than based on location, timescales can differ depending on the party submitting the application, whether it is in order and if the Land registry must send notices to any other parties. Currently approximately three quarters of submission are fully addressed within two weeks but occasionally there can be protracted delays. Historically registration occurs after the purchaser has moved in to the premises thus 'speed' is not always primary concern yet if there is a degree of urgency associated with the registration then you or your conveyancer must contact the land registry and explain the circumstances.
I opted to have a survey carried out on a property in Westbury On Trym before retaining solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some lenders will refuse to grant a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Westbury On Trym. Conveyancing may be slightly more expensive based on your lender's requirements.