My husband and I are planning to purchase a home in Malpas and are in fact using a Malpas conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. HSBC Bank have this evening contacted us to inform me that they have now hit a problem as our Malpas conveyancer is not on their conveyancing panel. Please explain?
If you are buying a property requiring 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 solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Malpas lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
The owners of the property we are purchasing have instructed a conveyancing firm in Malpas who has insisted on a exclusivity contract with a down payment 6,000. Are such arrangements appropriate for Malpas conveyancing transactions?
There are two main drawbacks with signing a lock out agreement (sometimes known as a shut-out contract) is that it diverts attention away from moving forward with the conveyancing process, so unless it requires little or no negotiation then it could turn out to be a hindrance. It is not strongly advocated amongst Malpas conveyancing solicitors as a result. A supplemental negative is the extent of the remedies available - a jilted buyer is very unlikely to be issued with injunctive relief to prevent the owner selling to another buyer, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in restricted circumstances, the extra payment of penalties.
I am close to exchanging contracts on the sale of our property in Malpas and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local lawyer would know this is not the case. For the life of me I don't know why the buyers instructed an internet conveyancing firm rather than a conveyancing solicitor in Malpas. We have lived in Malpas for many years we know of no issue. Is it a good idea to contact our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I have justfound out that Wolstenholmes have been shut down. They carried out my conveyancing in Malpas for a purchase of a freehold house 9 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The quickest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Malpas conveyancing specialists.
How do I use the search tool to get a fee calculation from a conveyancing solicitor in Malpas on the authorised to act for my lender?
1st pick a lender such as Yorkshire Building Society, Barnsley Building Society or Bank of Ireland then choose your preferred area for instance Malpas. Conveyancing organisations in Malpas and beyond should be listed.