Please help. My Addlestone lawyer is advising me that he is legally obliged toapply for Addlestone conveyancing searches due to the fact thatthe firm are on the Virgin Moneysolicitor panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Addlestone conveyancing searches.
How up to date is your database of Addlestone solicitors on the Nottingham conveyancing panel? Do Nottingham send you an updated list?
Addlestone conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
I am in the process of refinancing my home in Addlestone, does my lawyer need to be on the Yorkshire BS Solicitor panel?
There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
How does conveyancing in Addlestone differ for newly converted properties?
Most buyers of new build residence in Addlestone contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in Addlestone tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Addlestone or who has acted in the same development.
We yesterday found out that one of the partners of the conveyancing practice handling the purchase conveyancing in Addlestone is a relative of the owners that we are purchasing from. Is this acceptable?
As long as no conflict arises this is permitted. If you are needing mortgage finance then the mortgage company may have a say as many mortgage companies have specific instructions concerning this. For example for Clydesdale Bank as of 17/4/2024, the requirements read as follows :