My wife and I are looking to buy a home in Herefordshire and have appointed a Herefordshire conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Bank of Ireland have this morning contacted us to inform me that there is now an issue as our Herefordshire lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is standard 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 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 and you may continue to use your own Herefordshire solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We note that you have a post code search directory identifying solicitors on the Aldermore conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Herefordshire?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Herefordshire.
I am planning to move home in June. Should my conveyancing solicitor call the removal company on the day of completion. Incidentally, can you recommend a removal company in Herefordshire. Conveyancing lawyer was chosen before I stumbled across your website.
On the day of completion you can pick up the keys from your selling agent but this can only be done when the vendors lawyers advise the agent that they have the completion monies and the keys can be collected. You should inform the removal men that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can assist you in locating a residential property solicitor in Herefordshire or a lawyer with expertise in conveyancing in Herefordshire.
When it comes to mortgage companies such as Virgin Money, do Herefordshire conveyancers incur a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I have paid off my mortgage with Principality. I assume I don't need a Herefordshire conveyancer on the Principality panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I am hoping to sign contracts shortly on a ground floor flat in Herefordshire. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Herefordshire should include some of the following:
Where does the liability rest for repairing the window frames Changes to the flat Repair and maintenance of the property Will you be prohibited or prevented from having pets in the property? Information as to the provision as set out in the lease to to contribute towards maintenance costs - in respect of the block, and the more general rights a leaseholder enjoys
Leasehold Conveyancing in Herefordshire - A selection of Questions you should ask before buying
Can you tell me if there are any major works in the planning that will likely increase the maintenance fees? Is the freehold owned collectively by the leaseholders? You should want to find out as much as possible about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to daily matters such as the upkeep of the common parts. Ask prospective neighbours what they think of them. Finally, be sure you discover the dates that you are obliged pay the maintenance charge to the relevant party and specifically what it includes.
I have chosen a Herefordshire conveyancing solicitor for our house purchase (FTB’s) and have noticed in the terms and conditions that they are not overseen by the FCA. Should I be concerned or is that the norm with conveyancing practitioner?
We can't see why they should be. Most conveyancer don't lend money. They will be regulated by the Solicitors Regulation Authority, who have specific laws covering monies sitting in their bank.