My fiance and I are looking to purchase a property in Leeswood and have instructed a Leeswood conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Scotland have this evening contacted us to advise us that there is now an issue as our Leeswood solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property needing a mortgage it is normal for the purchasers' lawyers to also act for 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 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Leeswood lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I am helping my aunt sell her house in Leeswood. Will the conveyancing solicitor commission an energy assessment or should I organise this?
Following the demise of Home Packs, energy performance certificates remained a required part of moving property. An energy assessment needs to be to hand before the property is marketed. It is not as aspect of the sale process that conveyancers ordinarily arrange. Where you are using a Leeswood conveyancing practitioner they may be able to arrange energy assessments due to their contacts with long established local accredited person
Is it the case that all Leeswood solicitor practices on the Aldermore conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Aldermore conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some lenders do allow licenced conveyancers on their panel in which case such organisation would be governed by the Council of Licensed Conveyancers.
Last month we had a mortgage agreed in principle with Clydesdale. Leeswood conveyancing practitioners are appointed. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
There is no definitive answer here. Have Clydesdale conducted the valuation? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Should my conveyancer be raising questions concerning flooding as part of the conveyancing in Leeswood.
The risk of flooding is if increasing concern for solicitors dealing with homes in Leeswood. Some people will purchase a house in Leeswood, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, but there are a various searches that can be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Leeswood. The standard information sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to discover if the property has historically flooded. In the event that the premises has been flooded in past which is not disclosed by the seller, then a buyer could issue a compensation claim as a result of such an inaccurate reply. A buyer’s solicitors may also conduct an environmental report. This should reveal whether there is a recorded flood risk. If so, additional inquiries will need to be conducted.
It has been four months since my purchase conveyancing in Leeswood took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My partner has encouraged me to instruct his conveyancing solicitors in Leeswood. Do I follow his guidance?
No doubt it’s preferable to select a conveyancing lawyer is to have recommendations from friends or relatives who have actually experience in using the firm you're considering.