My fiance and I are looking to purchase a property in Wythall and are in fact using a Wythall conveyancing firm. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Nottingham Building Society have this morning contacted us to inform me that they have now hit a problem as our Wythall conveyancer is not on their conveyancing panel. Please explain?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for 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 solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Wythall lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
At what point does exchange of contracts happen for purchase conveyancing in Wythall and am I required to be at the lawyers office?
If you are near to one of the conveyancing solicitors in Wythall you are invited in to sign contracts. That being said, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when communicating with you by post or email. The signing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Wythall)to be in the office at the appropriate time.
We are downsizing from our property in Wythall and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A high street Wythall lawyer would know this is not the case. For the life of me I don't know why the purchasers are using a web based conveyancing firm as opposed to a conveyancing solicitor in Wythall. We have lived in Wythall for six years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get confirmation need.
It would appear that you have a conveyancing lawyer already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I used Arc property Solicitors a few years ago for my conveyancing in Wythall. Now, I need the documents but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Wythall of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £195,000 and found one near me in Wythall I like with amenity areas and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Wythall in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan that many years will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.