My partner and I are hoping to acquire a home in Easton and are in fact using a Easton conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Yorkshire Building Society have this morning contacted us to advise us that they have now hit a problem as our Easton lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also act for the mortgage company. 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 solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Easton solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We were just about to exchange contracts for a property in Easton. We have hit a stumbling block. The loan offer with Clydesdale expires on 15/5/2023 but the vendors are putting forward a completion date of 17/5/2023. Can one prolong the mortgage offer?
The person best placed to deal with your question is your conveyancer who should assess if they corresponding with the mortgage broker, seller’s lawyers, selling agents or indeed all parties based on what has happend in your transaction to date.
We are planning to purchase with Darlington Building Society. We have called around locally yet am unable to find a Easton conveyancing firm on the Darlington Building Society approved list. Can you assist?
Feel free to take advantage of the find a conveyancing panel solicitor tool on this page. Pick the lender and type Easton or your location and you will discover a number of lawyer located in Easton or nearest you.
When it comes to mortgage companies such as Co-operative, do Easton conveyancing practitioners incur a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We expect to receive a DIP from RBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Easton solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Easton solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
My partner and I are at the point of looking at apartments in Easton and I am now considering a potential offer. Is it sensible to have a property lawyer on ‘stand by’? I will be getting a home loan with Nationwide.
It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are seeking a mortgage with Nationwide, ask your prospective lawyers if they are on the Nationwide conveyancing panel otherwise they can't do the mortgage legal work.
Are there any compelling benefits to selecting a high street solicitor in Easton
Lots of house movers in Easton choose a local conveyancing practitioner so that they can attend the firm’s offices in the event that they have concerns, and to execute paperwork without using the post.
One could allege that there exists a distinct benefit when using a lawyer nearby to a house you are purchasing, due to the familiarity of the region and possible local concerns - but this is debatable. Many conveyancers undertaking their work via the web and may be any place in the world.