My fiance and I are planning to buy a house in Bournville and have appointed a Bournville conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Nottingham Building Society have this evening contacted us to advise us that there is now an issue as our Bournville solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is usual 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 property lawyer 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 Bournville solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
My home in Bournville is up for sale and I have accepted an offer. Does my conveyancing practitioner need to be on the Leeds Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
Is it necessary to pay for insurance to address the risk of chancel repairs when acquiring a house in Bournville?
Unless a previous purchase of the property completed after 12 October 2013 you can expect conveyancing practitioners handling conveyancing in Bournville to continue to recommend a chancel search and or chancel repair liability insurance.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Bournville?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bournville. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I need to instruct a conveyancing lawyer in Bournville for my purchase. Is it possible to review a solicitor's record with the legal regulator?
Members of the public can search for presented Solicitor Regulator Association (SRA) decisions arising from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA may recorded telephone calls for training purposes.