My wife and I are purchasing a 2 bedroom flat in Cullompton with a mortgage. We have a Cullompton solicitor, however the lender advise he's not on their "panel". It seems we have little choice but to appoint one of the mortgage company panel solicitors or continue with our Cullompton conveyancing practitioner and pay for one of their panel firms to act for them. This feels very unfair; are we not able to demand that the lender use our Cullompton solicitor ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Cullompton conveyancing solicitor to apply to be on the conveyancing panel.
What happens if my lawyer’s firm is removed from the Clydesdale Conveyancing panel ahead of completing my conveyancing in Cullompton?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I bought my home on 14 May and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Cullompton said it will be registered in a couple of weeks. Are properties in Cullompton uniquely lengthy to register?
As far as conveyancing in Cullompton is concerned, registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether there are errors and whether the Land registry communicate with any other parties. At present roughly 80% of such applications are fully addressed within 12 days but some can be subject to protracted hold-ups. Registration takes place once the new owner has moved in to the property so an expedited registration is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your conveyancer can speak with the land registry and explain the circumstances.
How does conveyancing in Cullompton differ for new build properties?
Most buyers of new build premises in Cullompton contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Cullompton typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Cullompton or who has acted in the same development.
Taking into account that I will soon part with over three hundred thousand on 3 bedroom house in Cullompton I would like to have a conversation with the conveyancer concerning thetransaction ahead of instructing the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you speaking to the lawyer who will be carrying out your conveyancing in Cullompton.There is no ‘factory style conveyancing’ - each client is unique person, not a file number. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Cullompton should be the figure that you are charged.