My wife and I are hoping to purchase a flat in Bishop Auckland and are in fact using a Bishop Auckland 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. TSB have this evening contacted us to advise us that there is now an issue as our Bishop Auckland lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is normal 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 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 bank's conveyancing panel as you are at liberty to use your preferred Bishop Auckland lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Our lawyer has discovered a defect with the lease for the apartment we are purchasing in Bishop Auckland. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that he must ensure that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. These conveyancing instructions have to be complied with.
Have just purchased a repossessed house at auction in Bishop Auckland. Conveyancing is necessary. What are my next steps?
Having exchanged you must find a conveyancing practitioner as a matter of urgency as you are faced with a pending a fixed date to complete the deal. Every auction property will ordinarily have an associated auction set of papers. This will include most,if not all of the paperwork that your solicitor requires. If you have purchased leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that you have funds in place to complete on the on the contractual date .
Two weeks ago we had a mortgage agreed in principle with Kent Reliance. Bishop Auckland conveyancing lawyers have been appointed. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
Some lenders take longer than others. Have Kent Reliance done the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Bishop Auckland solicitor on the Nationwide panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
Should commercial conveyancing searches reveal planned roadworks that may affect a commercial site in Bishop Auckland?
Many commercial conveyancing solicitors in Bishop Auckland will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Bishop Auckland. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Bishop Auckland.
For each commercial conveyancing transaction in Bishop Auckland it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Bishop Auckland commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Bishop Auckland.
What is different about your site and alternative online quote calculators for conveyancing in Bishop Auckland?
At this site secure a conveyancing quote via a Solicitor or Licensed Conveyancer that understands the issues of your conveyancing in Bishop Auckland. Unlike many estate agents and brokerage sites we do not have referral deals with solicitors. Many agents and online brokers 'recommend' solicitors that pays the highest per referral, rather than the best value conveyancing in Bishop Auckland