My husband and I are hoping to purchase a property in Canton and have instructed a Canton conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Coventry Building Society have this evening contacted us to inform me that there is now an issue as our Canton conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also act for the purchaser's lender. 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 lender 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 Canton solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Is it the case that all Canton conveyancing solicitors on the Virgin Money conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Virgin Money conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
How can we tell if a Canton conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Canton getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer conducting your conveyancing.
I have paid off my mortgage with Nationwide. I assume I don't need a Canton conveyancer on the Nationwide panel to discharge the mortgage at the Land Registry. Please confirm.
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
My wife and I are selling our property in Canton and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Canton conveyancer would know that there is no such problem. It does beg the question why the buyers used an internet conveyancing practice as opposed to a conveyancing solicitor in Canton. We have lived in Canton for many years we know of no issue. Do we get in touch with our local Authority to seek confirmation need.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I am four weeks into a freehold purchase having been recommend to a firm by the selling agent to perform conveyancing in Canton. I am am starting to be frustrated with the quality of service. Could you help me find new solicitors?
A conveyancer would need to be really poor in order to consider diss instructing them. Has the mortgage been issued? If so you must make them aware of the new solicitor and ensure the mortgage documents are re-issued. Your new conveyancer needs to be on the mortgage company approved list to avoid added expenses and complications. So that should be your first question of the new conveyancers. The find a solicitor tool can assist you in finding a lender approved lawyer for your conveyancing in Canton
I am short of a 10% deposit on my apartment purchase in Canton , but I still want to go ahead. What can I do?
You can agree a lower deposit. Many property owners will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second