My wife and I are hoping to purchase a house in Lancashire and are in fact using a Lancashire conveyancing firm. 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. Santander have this morning contacted us to advise us that they have now hit a problem as our Lancashire solicitor is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. 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 bank's conveyancing panel and you may continue to use your own Lancashire solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Having sold my house in Lancashire last February yet the purchaser is SMS messaging daily to say his solicitor is waiting to hear from mine. What should my lawyer have done now that I have sold?
After completion of your disposal your conveyancer is obliged to send the transfer deeds and all of the paperwork to the purchaser's solicitors. Where appropriate, your lawyer must also evidence that the home loan has been discharged to the buyers conveyancers. There is unlikely to be post completion formalities just for conveyancing in Lancashire.
Various internet forums that I have come across warn that are the number one cause of obstruction in Lancashire conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Lancashire.
I got the keys to my flat on 16 June and my personal details is yet to be registered. Need I be worried? My conveyancing solicitor in Lancashire expressed confidence that it would be concluded in a couple of weeks. Are titles in Lancashire uniquely lengthy to register?
There is nothing unique about conveyancing in Lancashire registration formalities. As opposed to being determined by geographic area, timeframes can adjust depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any interested persons or bodies. As of today roughly 80% of such applications are fully addressed within two weeks but occasionally there can be longer delays. Registration occurs after the buyer is living at the property therefore 'speed' is not typically top priority yet where it is urgent that the the registration takes place urgently then you or your solicitor must contact the land registry and explain the circumstances.
How does conveyancing in Lancashire differ for newly converted properties?
Most buyers of new build residence in Lancashire contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Lancashire tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Lancashire or who has acted in the same development.