My fiance and I are looking to acquire a home in Reigate and have instructed a Reigate conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. The Mortgage Works have this evening contacted us to advise us that they have now hit a problem as our Reigate lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also represent 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 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 Reigate solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Our bank has recommended solicitors on their panel based in Reigate but I would rather use a conveyancing lawyer in Reigate or nearer to where I live. Can you assist?
The minority of Reigate conveyancing practitioners are on all lender’s conveyancing panel. Use our search tool to locate a Reigate conveyancing firm on the on the lender panel.
How does conveyancing in Reigate differ for new build properties?
Most buyers of new build or newly converted property in Reigate come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Reigate typically acquire the real estate, 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 conveyancers 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 Reigate or who has acted in the same development.
What does commercial conveyancing in Reigate cover?
Commercial conveyancing in Reigate covers a wide range of guidance, given by regulated solicitors, relating to business premises. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
In my capacity as executor for the estate of my grandfather I am selling a residence in Neath but live in Reigate. My solicitor (approximately 300 kilometers from mehas requested that I sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in Reigate who can attest and place their company stamp on the document?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Reigate based