My husband and I are looking to acquire a home in Kings Norton and have instructed a Kings Norton conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Virgin Money have this evening contacted us to inform me that they have now hit a problem as our Kings Norton lawyer is not on their conveyancing panel. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers 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 property lawyer 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 solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Kings Norton solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I have given 8 weeks notice to my current landlord and must be out of my let out apartment in Kings Norton by 24/1/2025. Conveyancing for my house purchase is progressing. Is it possible to complete in 4 weeks as I wish to avoid having to move into short term accommodation?
The normal practice is not to serve notice on a rental until exchange of contracts has taken place. Assuming that you have not previously done so, speak to your solicitor and request that they seek the assistance the owners side, try to get a realistic time scale from them that everyone will work to achieve
I am helping my step-mother sell her flat in Kings Norton. Does the conveyancing solicitor order an energy assessment or should I organise this?
Following the abolition of Home Packs, energy assessments was maintained a compulsory component of selling a house. An EPC needs to be commissioned in advance of the property being advertised. It is not as aspect of the sale process that law firms normally organise. Where you are using a Kings Norton conveyancing practitioner they might be willing to arrange EPC’s given their relationships with reputable local providers
This question may be naive but I am wet behind the ears as FTB of a two bedroom flat in Kings Norton. Do I pick up the keys to the property on completion from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Kings Norton?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's conveyancers, and once they have received this, you will be invited to collect the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
Santander have agreed my home loan in principle, my offer on a flat in Kings Norton has been agreed to, what are the next steps?
Your property agent will want to know who your solicitors are (ensure that the property lawyers are on the lender’s panel). Telephone Santander or the broker and finish off any appropriate forms. Santander will sellect a valuer who will get in contact with the selling agent or seller to book an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Santander will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Kings Norton.
I decided to have a survey done on a house in Kings Norton prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend not give a loan on such a premises.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you e-mail us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kings Norton. Conveyancing will be smoother if you use a solicitor in Kings Norton especially if they are acquainted with such properties in Kings Norton.
I was recommended by a few selling agents in Kings Norton to find a property lawyer on your site. What’s the financial advantage for Estate Agents to market your services rather than alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.