My wife and I are planning to purchase a property in Middlesbrough and have appointed a Middlesbrough conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Barnsley Building Society have this morning contacted us to inform me that there is now an issue as our Middlesbrough conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance 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 property lawyer should contact your mortgage company 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 Middlesbrough solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Would the conveyancing lawyers identified through your search tool execute auction conveyancing in Middlesbrough?
We know of a number of niche lawyers we can put you in touch with those conducting auction conveyancing. Middlesbrough is just one of our areas of in which our lawyers cover.
The Middlesbrough conveyancing solicitors that I appointed last week on my purchase in Middlesbrough have without warning shut down. They were on acting for me because I needed a solicitor on the UBS conveyancing panel and my previous Middlesbrough lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What do I do now?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
I decided to have a survey completed on a house in Middlesbrough ahead of instructing lawyers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some banks will refuse to issue a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you contact us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Middlesbrough. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Middlesbrough to see if the conveyancing costs will increase in light of this.
In searching the internet for the term on line conveyancing in Middlesbrough it brings up numerous conveyancerslocally. How do I determine which is the right solicitor for my move?
The preferential method of choosing a suitable conveyancer is via personal testimonial, so enquire of colleagues and relatives who have purchased a property in Middlesbrough or a respected estate agent or mortgage broker. Charges for conveyancing in Middlesbrough differ, so it's sensible to request at least three fee calculations from different conveyancers. Be sure to secure confirmation what costs in the quote includes.