My fiance and I are hoping to purchase a home in Narborough and have instructed a Narborough conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Birmingham Midshires have this morning contacted us to advise us that they have now hit a problem as our Narborough conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is standard for the purchasers' solicitors 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 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 Narborough lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Can you point me to a directory of Kent Reliance panel solicitors in Narborough on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings open the public on the web. If you are seeking to appoint a Narborough property lawyer on the Kent Reliance please make the most of our facility.
I am expecting a OIP from TSB this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do TSB recommend any Narborough solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint Narborough solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
I had an offer accepted on an apartment in Narborough on 30/10/2018, valuation was booked five days after, all came back fine. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to Barclays and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Barclays conveyancing panel. Are Barclays entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Should my lawyer be making enquiries about flooding as part of the conveyancing in Narborough.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Narborough. There are those who buy a house in Narborough, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or by their solicitors which should give them a better understanding of the risks in Narborough. The standard information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to discover if the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a purchaser may bring a legal claim for losses resulting from an misleading response. A purchaser’s solicitors should also carry out an environmental report. This should higlight whether there is a recorded flood risk. If so, more detailed inquiries should be made.
I got the keys to my apartment on 13 March and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Narborough advises it would be recorded in a couple of weeks. Are properties in Narborough uniquely lengthy to register?
There is nothing unique about conveyancing in Narborough registration formalities. Rather than based on location, timescales can vary depending on who lodges the application, whether it is in order and if the Land registry need to notify any 3rd parties. At present in the region of 80% of such applications are fully addressed within two weeks but occasionally there can be extensive hold-ups. Registration is effected once the buyer is living at the premises therefore 'speed' is not usually top priority yet if it is urgent that the the registration takes place urgently then you or your conveyancer must contact the land registry and explain the circumstances.
How does conveyancing in Narborough differ for new build properties?
Most buyers of new build or newly converted property in Narborough contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Narborough tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Narborough or who has acted in the same development.