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Find a Balsall Common Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Balsall Common? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Balsall Common conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in Balsall Common

My wife and I are planning to purchase a flat in Balsall Common and have appointed a Balsall Common 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. Nationwide Building Society have this morning contacted us to inform me that they have now hit a problem as our Balsall Common lawyer is not on their conveyancing panel. Please explain?

When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also act for the purchaser's lender. 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 Accreditation Scheme. Your solicitor should contact your bank 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 and you may continue to use your own Balsall Common solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.

I do hope you can help me. My Balsall Common conveyancer is informing me me that she is duty bound toapply for Balsall Common conveyancing searches due to the fact thatthe firm are on the Virgin Moneyapproved lawyer panel. These Balsall Common searches cost a lot of money can this be avoided?

You have limited options available to you. As you are obtaining a mortgage with a bank your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Balsall Common conveyancing searches.

I am looking to buy a flat and require a conveyancing solicitor in Balsall Common who is on the Coventry Building Society approved. Could you point me in the right direction as regards a conveyancing firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Coventry Building Society in certain locations such as Balsall Common. We dont recommend any particular firm.

Planning on purchasing a apartment in Balsall Common. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Balsall Common solicitor is on the UBS conveyancing panel.

After shopping around on the internet I have found a Balsall Common conveyancing practitioner having made sure that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?

Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Balsall Common postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Balsall Common.

Bank of Ireland have agreed my mortgage in principle, my bid on a apartment in Balsall Common has been agreed to, now what?

The estate agent will need to be informed of your property lawyer's details (ensure that the conveyancing practitioners are on the bank’s approved list). Telephone Bank of Ireland or the broker and finalise any outstanding documentation. Bank of Ireland will appoint a valuer who will get in contact with the selling agent or seller to arrange a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Bank of Ireland will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Balsall Common.

Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Balsall Common I like with a park and railway links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Balsall Common for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

Should you need a mortgage that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.

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