My fiance and I are hoping to buy a property in Liss and have appointed a Liss conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. HSBC Bank have this evening contacted us to advise us that there is now an issue as our Liss lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is conventional 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 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 bank's conveyancing panel as you are at liberty to use your preferred Liss lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I am purchasing a flat and need a conveyancing solicitor in Liss who is on the Accord Mortgages Ltd approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Accord Mortgages Ltd in certain locations such as Liss. We dont recommend any particular firm.
Me and my partner are buying a house in Liss. It might be a silly question but how we can trust a conveyancer? On completion day we will need to deposit funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is your number one tip for finding a conveyancing solicitor in Liss
We would encourage you not to go for the lowest Liss conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are getting a further advance on our mortgage from Principality as we wish to carry out renovations to our home in Liss. Do we need to select a local Liss solicitor on the Principality conveyancing panel to deal with the paperwork?
Principality do not ordinarily require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality panel.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when acquiring a property in Liss?
Unless a prior purchase of the premises took place post 12 October 2013 you may take it that lawyers delivering conveyancing in Liss to continue to advocate a chancel search and or chancel repair liability insurance.
I have been on the look out for a ground for flat up to £235,500 and identified one round the corner in Liss I like with open areas and transport links in the vicinity, the downside is that it only has 51 remaining years left on the lease. There is not much else in Liss for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.