My wife and I are planning to buy a flat in Buckhurst Hill and have instructed a Buckhurst Hill conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Birmingham Midshires have this morning contacted us to advise us that they have now hit a problem as our Buckhurst Hill solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard 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 Quality 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Buckhurst Hill 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.
What is the first thing I need to know concerning purchase conveyancing in Buckhurst Hill?
You may not hear this from too many lawyers but conveyancing in Buckhurst Hill or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there is plenty of room for conflict between you and other parties involved in the home moving process. For instance, the seller, estate agent and on occasion the bank. Choosing a solicitor for your conveyancing in Buckhurst Hill is a critical decision as your conveyancer is your adviser, and is the ONE person in the process whose role it is to look after your best interests and to keep you safe.
Every so often a potential adversary will try and sway you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by suggesting your conveyancer is dragging his heels. Or your mortgage broker may try to convince you to do something that is against your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My brother-in-law has suggested I instruct a conveyancing solicitor in Buckhurst Hill. I I would like to check whether they are on the Birmingham Midshires approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should phone your conveyancer and enquire if they are on the lender panel. Otherwise please call Birmingham Midshires who may be able to help.
What makes your site different to other online quote calculators when it comes to conveyancing in Buckhurst Hill?
At this site receive a fixed fee quote via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Buckhurst Hill. As opposed to estate agents and many comparison sites we do not charge firms a fee if you instruct them for your home move in Buckhurst Hill
I am due to assess quotes for conveyancing in Buckhurst Hill from various conveyancing practitioner and appoint one. Do I ask them to hold tight until I I have an offer accepted on a flat.
We would recommend that you only ask your conveyancer to open a file and submit searches once the sales memorandum has been issued by the estate agent especially as Buckhurst Hill conveyancing searches are a couple of hundred pounds.