My fiance and I are hoping to purchase a property in Malmesbury and have appointed a Malmesbury 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. Bank of Ireland have this afternoon contacted us to inform me that they have now hit a problem as our Malmesbury conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers 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 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 Malmesbury lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
My apartment in Malmesbury is up for sale and I have a buyer. Does my conveyancing practitioner have to be required to be on the Clydesdale conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Clydesdale conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
How can we know in advance if a Malmesbury conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Malmesbury obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your conveyancing.
Intending to buy a house in Malmesbury. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Malmesbury lawyer is on the Clydesdale conveyancing panel.
After shopping around on the internet I have found a Malmesbury property lawyer having made sure that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Malmesbury postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Malmesbury.
Due to the input of my in-laws I had a survey completed on a house in Malmesbury in advance of instructing lawyers. I have been told that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies will not give a mortgage on such a property.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Malmesbury. Conveyancing may be slightly more expensive based on your lender's requirements.
I am downsizing from my home. My previous solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Malmesbury if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Malmesbury. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.