My wife and I are looking to buy a house in Budleigh Salterton and are in fact using a Budleigh Salterton conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Accord Mortgages Ltd have this morning contacted us to advise us that they have now hit a problem as our Budleigh Salterton 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 usual 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 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 lender’s conveyancing panel as you are at liberty to use your preferred Budleigh Salterton 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 about to exchange contracts for a property in Budleigh Salterton. We have hit a stumbling block. Our mortgage offer with Chelsea Building Society runs out on 10/11/2020 but the vendors are suggesting a completion date of 12/11/2020. Is it possible to extend the loan offer?
The person best placed to deal with your concern is your conveyancer who is in a position to assess if they should be discussing with the mortgage company, vendor’s lawyers, property agents or possibly all parties based on the circumstances your transaction as of today.
It is 10 years ago since I acquired my home in Budleigh Salterton. Conveyancing lawyers have now been appointed on the sale but I am unable to find my title documents. Is this a problem?
You need not be too concerned. Firstly there is a chance that the deeds will be retained by your lender or they may still be with the lawyers who oversaw the purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Budleigh Salterton involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
My wife and I have a renovated Edwardian house in Budleigh Salterton. Conveyancing practitioner acted for me and HSBC Bank. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Budleigh Salterton and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing practitioner who conducted the conveyancing.
How simple is it to change solicitor as I need to select a firm on the The Royal Bank of Scotland conveyancing panel. I hired a family conveyancing solicitor in Budleigh Salterton round the corner but the firm is not accepted by The Royal Bank of Scotland
We will our best to assist in finding you a conveyancing solicitor in Budleigh Salterton on the The Royal Bank of Scotland panel. Please note that the law firms that we list do not pay us commission if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Budleigh Salterton. In making use of search facility on this page, you can compare fees for conveyancing solicitors in Budleigh Salterton and throughout England and Wales.