My wife and I are planning to buy a home in East Preston and have instructed a East Preston conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Chelsea Building Society have this morning contacted us to advise us that they have now hit a problem as our East Preston conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property with the assistance 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 property lawyer 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 solicitors to act. 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 East Preston lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Will my conveyancing lawyers need to check that the building insurance when buying a house in East Preston. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/4/2024, the requirements read as follows :
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a house in East Preston? or I am told that there is an ancient law that means some house owners living in a parish church boundary will be compelled to pay for maintenance to the chancel in proximity to the church. Is this appropriate for conveyancing in East Preston?
Unless a prior acquisition of the property took place after 12 October 2013 you could take it that lawyers handling conveyancing in East Preston to continue to suggest a chancel search and or chancel repair liability policy.
Have completed on a a detached house in East Preston , What is the estimated time for the Land Registry to register my title? My East Preston conveyancing solicitor has been very slow, so I want to be sure the land registry aspects are dealt with.
There is nothing unique when it comes to conveyancing in East Preston registration formalities. Rather than based on location, timeframes can differ depending on who lodges the application, whether it is in order and whether the Land registry must send notices to any 3rd parties. At present approximately 80% of submission are fully dealt with within two weeks but some can be subject to extensive delays. Historically registration is effected after the buyer is living at the property so an expedited registration is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your conveyancer should contact the land registry and explain the circumstances.
What does commercial conveyancing in East Preston cover?
Commercial conveyancing in East Preston incorporates a broad range of services, provided by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, 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 leases.