My wife and I are planning to buy a home in Ladywood and have appointed a Ladywood conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Aldermore have this afternoon contacted us to inform me that they have now hit a problem as our Ladywood conveyancer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is normal 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 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 lender’s conveyancing panel and you may continue to use your own Ladywood solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Would the conveyancing lawyers listed on your site handle right to buy conveyancing in Ladywood?
We do have plenty of conveyancing solicitors carrying out right to buy transactions Do e-mail us to get a costs illustration.
At what point can the exchange of contracts occur in domestic conveyancing in Ladywood and am I required to be at the lawyers office?
If you are round the corner to our conveyancing solicitors in Ladywood you are welcome to come in to sign documents. That being said, the firms we work with offer a nationwide conveyancing service and provide just as detailed and professional a job for you when communicating with you digitally. The executing of the contract is not the point of no return. A signed contract is just a prerequisite for the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Ladywood)to be in the office at the appropriate time.
Am I best advised to instruct a Ladywood conveyancing lawyer based in the area that I am buying? I have an old university friend who can carry out the conveyancing however his firm is located 400kilometers away.
The benefit of a local Ladywood conveyancing practice is that you can attend the office to execute paperwork, hand in your ID and pester them where appropriate. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were happy that should outweigh using an unknown Ladywood conveyancing lawyer just because they are based in the area.
Me and my husband have just had an offer accepted on a flat and had meeting on Monday with HSBC for the mortgage. They advised us that when it comes to appointing a lawyer that if they are not on their approved panel of solicitors then we will incur a further charge of £250+. This is because they would then have to select a conveyancer to act on their behalf in addition to the one we appoint on our behalf and we assume responsibility for their invoice. I have requested HSBC to furnish me with a list so I can request estimates only from their approved lawyers but was told they dont have such a list to hand over. What would be the best way of going about this?
You can enquire of HSBC what their criteria for joining their panel is for a solicitor.Then ask the lawyer of your choice whether they fit that criteria and have they acted on mortgages for HSBC before. If the answer to those is yes, then just double check with HSBC. Another option is to use our search tool and we may be able to locate a lawyer in Ladywood on the approved list for HSBC.