My husband and I are looking to acquire a house in Northwich and are in fact using a Northwich conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. National Westminster Bank have this evening contacted us to advise us that there is now an issue as our Northwich conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors 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 Quality 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Northwich solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Our bank has recommended solicitors on their panel based in Northwich but I would rather instruct a conveyancing lawyer in Northwich or nearer to where I live. Can you assist?
It is by no means the case that all Northwich conveyancing firms are approved and listed on all banks conveyancing panel. Use our find an approved solicitor tool to find a Northwich conveyancing solicitor on the on the bank panel.
My wife and I are in the process of viewing flats in Northwich and I am about to put in an offer. Should I already have a solicitor in place at this stage? I am planning to take a home loan with Aldermore.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are getting a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
The mortgage over my property is with UBS for my property in Northwich. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
You must advise UBS in advance of renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. It should not be necessary to do this via a UBS conveyancing panel solicitor.
After shopping around on the internet I have found a Northwich conveyancing practitioner having checked 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 property 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 Northwich 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 Northwich.
Have completed on a a terraced house in Northwich , how long will it take for the Land Registry to record my ownership? My Northwich conveyancing solicitor has been painfully slow, so I want to be certain the registration is addressed.
There is nothing unique about conveyancing in Northwich registration formalities. Rather than based on location, timescales can differ depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any interested persons or bodies. At present approximately three quarters of such applications are completed in less than three weeks but some can be subject to extensive hold-ups. Historically registration is effected once the purchaser is living at the property so an expedited registration is not always primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers can speak with the land registry and explain the circumstances.
I have today placed an offer on an apartment in Northwich and the estate agent that we are dealing with recommended his conveyancing practitioner. They quoted £800 excluding VAT and 3rd party costs. Does this sound like a good deal?
You should not rely on one quote. One should obtain like-for-like quotes for your conveyancing in Northwich. Then pick one that you are comfortable with and crucially, is on the approved panel of the lender that you are sourcing your mortgage from.