My fiance and I are looking to buy a flat in Coulsdon and have instructed a Coulsdon conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Virgin Money have this evening contacted us to inform me that they have now hit a problem as our Coulsdon lawyer is not on their approved list of lawyers. Please explain?
If you are buying a property requiring a mortgage it is normal for the purchasers' solicitors 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 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 Coulsdon lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am buying a right to buy a flat in Coulsdon. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Coulsdon you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Coulsdon.
My wife and I have a semi-detached Edwardian house in Coulsdon. Conveyancing lawyer represented me and Nottingham Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the matching address. Is it worth asking Nottingham Building Society to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be 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 Coulsdon 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 buyers. You can also enquire as to the situation with your conveyancing solicitor who conducted the conveyancing.
What does commercial conveyancing in Coulsdon cover?
Non domestic conveyancing in Coulsdon covers a broad array of services, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I need to find a conveyancing solicitor for sale conveyancing in Coulsdon. I've stumble upon a web site which appears to be the perfect answer If it is possible to get all this stuff completed via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?