My husband and I are looking to purchase a house in Dickens Heath and have instructed a Dickens Heath conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Norwich and Peterborough Building Society have this afternoon contacted us to inform me that there is now an issue as our Dickens Heath lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual 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 bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Dickens Heath 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.
Can conveyancing in Dickens Heath to be done in under a month?
In the event that the seller is applying a tight deadline to exchange it is advisable to make sure that your conveyancer is familiar with the location as they will benefit local contacts and insight. It is even conceivable that they would have transacted otherhomes in the same neighbourhood. Therefore consider using a Dickens Heath conveyancing solicitor. In addition, double check that the conveyancing firm is on the lender panel. It is estimated that just under twenty per cent of Dickens Heath conveyancing deals are delayed or jeopardised after finding out that a purchaser’s lawyer was not on their mortgage lender’s panel. In many cases this discovery resulted in the transaction being frustrated by an average of three weeks. It is said that this issue impacts approximately 100,000 home sales every year. Many Dickens Heath conveyancing practices can not represent certain lenders so do check at the outset.
2 months have elapsed since my purchase conveyancing in Dickens Heath completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
What does commercial conveyancing in Dickens Heath cover?
Non domestic conveyancing in Dickens Heath covers a broad range of advice, supplied by regulated solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment 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 have been sourcing a conveyancing lawyer in Dickens Heath for my sale. Can I review a solicitor's complaints history with the legal regulator?
Members of the public may search for presented Solicitor Regulator Association (SRA) determinations arising from investigations started on or after Jan 2008. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator may monitor call for training purposes.