My husband and I are looking to buy a home in Groby and have appointed a Groby conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Leeds Building Society have this morning contacted us to inform me that they have now hit a problem as our Groby lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also represent 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 lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Groby lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We're in Groby, First time buyers purchasing with a mortgage (lender is UBS , and our solicitor is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
A friend informed me that in buying a property in Groby there could be various restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in Groby which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Groby should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is there a list of Nottingham panel conveyancers in Groby on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings visible on the web. Where you are looking for a Groby lawyer on the Nottingham please use our facility.
Last month we had a mortgage agreed in principle with Clydesdale. Groby conveyancing solicitors were selected. How long does it take for Clydesdale to send the offer to the lawyer?
Some lenders take longer than others. Have Clydesdale conducted the valuation? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The lawyers who dealt with the conveyancing in Groby 10 years ago are no longer around. What do I do?
As long as you have a registered title the information relating to your proprietorship will be retained by HMLR with a Title Number. It is possible to perform a search at the Land Registry, identify your house and secure current copies of the Registered Entries for a small fee. Where the title is Leasehold then the Land Registry will in most cases hold a certified copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
Given that I am about to part with hundreds of thousands of pounds on a garden flat in Groby I wish to talk to a lawyer regarding thetransaction in advance of appointing the firm. Is this something that you can arrange?
This is something that we encourage - we would be happy to talk to you we do not take any clients on without you speaking to the conveyancer due to be carrying out your conveyancing in Groby.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The practices that we put you in touch with believe that the fees you are quoted for your conveyancing in Groby should be the figure that you are charged.