My husband and I are looking to acquire a flat in Andover and have appointed a Andover conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Britannia have this evening contacted us to advise us that there is now an issue as our Andover conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors 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 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 bank's conveyancing panel and you may continue to use your own Andover solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Are all Andover Conveyancing Quality Solicitors on the HSBC conveyancing list of approved firms?
A selection of lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
Is there a list of Principality panel conveyancers in Andover on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings open the public over the internet. If you are seeking to appoint a Andover conveyancer on the Principality please make the most of our tool.
Our offer on a house in Andover has been agreed to, but there is a chain. The vendors have offered on a property, however it’s not yet tied up, and are looking at other properties in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Andover. What do I do now? At what stage do I apply for the mortgage with Leeds Building Society?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then valuation, Andover conveyancing search fees, etc). The first course of action is to ensure that your lawyer is on the Leeds Building Society conveyancing panel. As to the subsequent phase this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. In a buoyant market many home buyers would apply for a home loan with Leeds Building Society and pay for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with searches.
I need some expedited conveyancing in Andover as I am under pressure to exchange contracts in less than one month. Thankfully I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
If.Given you are not taking a mortgage you are at liberty not to do searches although no lawyer would recommend that you don't. With plenty of history conveyancing in Andover the following are instances of what can show up and therefore impact the marketability of the property: Refused Planning Applications, Overdue Charges, Outstanding Grants, Road Schemes,...
It has been three months following my purchase conveyancing in Andover completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My husband and I are first time buyers - agreed a price, but the property agent informed us that the owners will only move forward if we instruct the agent's preferred lawyers as they are insisting on an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Andover
We suspect that the owner is not behind this request. If they want ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you intend to appoint your own,trusted Andover conveyancing firm - rather thanthe ones that will earn the negotiator at the agency a introducer fee or achieve conveyancing thresholds demanded by senior management.