When it comes to lenders such as Skipton, do Farnham Royal conveyancing practitioners incur a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We are getting a further advance on our home loan from Barclays as we intend to carry out a loft conversion to our home in Farnham Royal. Are we obliged to appoint a high street Farnham Royal solicitor on the Barclays conveyancing panel to handle the paperwork?
Barclays do not ordinarily require firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays conveyancing panel.
I was told four weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in Farnham Royal is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
Various internet forums that I have come across warn that are the number one reason for delay in Farnham Royal conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Farnham Royal.
How does conveyancing in Farnham Royal differ for new build properties?
Most buyers of new build premises in Farnham Royal come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because new home sellers in Farnham Royal tend to acquire the site, 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 accustomed to new build conveyancing in Farnham Royal or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Farnham Royal is where the house is located. Can you offer any guidance?
Flying freeholds in Farnham Royal are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Farnham Royal you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Farnham Royal may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I have been sourcing a conveyancing lawyer in Farnham Royal for my home move. Is it possible to see a firm’s record with the legal regulator?
Anyone may search for presented Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training purposes.