My partner and I are planning to purchase a flat in Hove and are in fact using a Hove conveyancing firm. 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. Coventry Building Society have this evening contacted us to advise us that they have now hit a problem as our Hove solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is usual 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 Quality Scheme. Your solicitor should contact your bank 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 and you may continue to use your own Hove solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
At what point can the exchange of contracts take place for residential conveyancing in Hove and do I need to attend the lawyers branch?
If you are near to one of the conveyancing solicitors in Hove you are welcome to come in to sign documents. However, the lender approved solicitors we work with offer a countrywide conveyancing service and give just as diligent and professional a job for you when dealing with you electronically. The signing of the sale agreement is not the critical part. A signed contract is necessary for the conveyancer to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hove)to be in the office at the appropriate time.
I have todaydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Hove for a purchase of a leasehold apartment 18 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hove conveyancing specialists.
What tools are available to search for a Hove solicitor on the Barclays conveyancing panel? I drive a motor bike and am happy to travel upto 20kilometers to meet the conveyancer.
Feel free to make use of the facility on this website. Please pick a mortgage company and your location and you will see a number of Hove conveyancing lawyers based on proximity. We have listed some Hove conveyancing firms at the bottom of this page and you can contact them to see if they are on the Barclays panel
I am just shy of a 10% deposit on my house purchase in Hove , but I am anxious exchange. Do I have options?
You can accept a smaller deposit. Most vendors will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second