My husband and I are hoping to purchase a flat in Buckden and are in fact using a Buckden conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Santander have this evening contacted us to advise us that there is now an issue as our Buckden solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is conventional 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 Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Buckden lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather appoint a Buckden based conveyancing firm?
Do check but the chances are that give you one of their panel lawyers should you accept the "fee-free" incentive. Contact the mortgage company and see if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Buckden.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Buckden is where the house is located. Can you offer any opinion?
Flying freeholds in Buckden are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Buckden you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Buckden may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How do I search for a Buckden solicitor on the Norwich and Peterborough Building Society conveyancing panel? I drive a motor bike and am prepared to travel upto 10miles to meet the lawyer.
You can use the tool on this website. Please pick a bank and your location and you will see a number of Buckden conveyancing lawyers locally. We have listed some Buckden conveyancing firms at the bottom of this page and you can telephone them to verify whether they are on the Norwich and Peterborough Building Society approved list
My husband and I are FTB’s - agreed a price, yet the estate agent told us that the vendor will only move forward if we instruct their preferred conveyancers as they need a ‘quick sale’. We would rather use a family conveyancer with experience of conveyancing in Buckden
It is unlikely the vendors are behind this. Should the vendor want ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your own,trusted Buckden conveyancing lawyers - rather thanthe ones that will provide the estate agent a referral fee or hit his conveyancing thresholds demanded by corporate headquarters.