Unfortunately I am unable to travel far from Nelson. What is the rationale as to why all Nelson lawyers are not on all lender panels?
Mortgage Companies ordinarily restrict either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that the organisation needs to have at least two partners. As well as restricting the nature of firm, some building societies decided to restrict the size of their panel they permit to represent them. It is worth noting that mortgage companies have no responsibility for the standard of advice provided by any Nelson conveyancing practitioner on their approved list. Property fraud was the main trigger for the culling of solicitor panels from 2008 notwithstanding that there are opposing opinions about the extent of solicitor involvement in some of that fraud. Statistics via HM Land Registry exposes that thousands of law firms only carry out one or two conveyances annually. Those vindicating conveyancing panel culls ask why law firms deserve the right to be on a lender panel when clearly property law is not their speciality?
Do the Building Society Association intend to launch a search tool with a view to to identify practices on the Norwich and Peterborough Building Society conveyancing panel for example in Nelson?
We would not expect to be advised of any intention on the part of the BSA to promote such a tool.
We were going to get a AIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Nelson solicitors on the Kent Reliance conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Nelson solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Nelson conveyancer on the Principality panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Virgin Money have agreed my mortgage in principle, my offer on a flat in Nelson has been accepted, what are the next steps?
The property agent will need to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Contact Virgin Money or your financial adviser and finalise any appropriate documentation. Virgin Money will sellect a valuer who will get in contact with the estate agent or vendor to schedule a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. Virgin Money will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Nelson.
I used Arc property Solicitors several years ago for my conveyancing in Nelson. I now require my file but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Nelson of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Nelson differ for newly converted properties?
Most buyers of new build residence in Nelson come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Nelson usually buy the land, 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 used to new build conveyancing in Nelson or who has acted in the same development.