My husband and I are planning to acquire a flat in Ripley and have instructed a Ripley conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. National Westminster Bank have this evening contacted us to advise us that they have now hit a problem as our Ripley lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers 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 Quality Scheme. Your solicitor should contact your lender 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 Ripley lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
This question may be naive but I am unexperienced as a 1st time purchaser of a ground floor flat in Ripley. Do I pick up the keys to the premises on the completion date from my conveyancer? If so, I will use a local conveyancing solicitor in Ripley?
On the day of completion you do not need to go to the conveyancers office in Ripley. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's conveyancers, and once they have received this, you will be called to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
I am currently in the process of buying my council flat in Ripley. I have a mortgage offer with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I had an offer accepted on a property in Ripley on 10/6/2019, valuation was booked 2 days later, all came back fine. Property lawyer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Virgin Money and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Virgin Money conveyancing panel. Are Virgin Money entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
Is it possible to switch firm as I need to select one who is on the Accord Mortgages Ltd conveyancing panel. I hired a family conveyancing solicitor in Ripley five minutes from me but he is not accepted by Accord Mortgages Ltd
It would be our pleasure to help you find a conveyancing solicitor in Ripley on the Accord Mortgages Ltd panel. Please note that the solicitors that we work with do not pay us fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Ripley. In utilising search facility on this page, you can compare charges for conveyancing solicitors in Ripley and throughout England and Wales.
My husband and I are 3 weeks into a residential purchase having been referred to a firm by the local agent to carry out the conveyancing in Ripley. I am am extremely disappointed with the level of service. Could you you assist me in finding new conveyancers?
They would need to be really poor to suggest diss instructing them. Has the mortgage offer been generated? In the event that it has you will need to advise them of the new lawyer and get the mortgage documents are issued to the new lawyers. Your conveyancer should be on the mortgage company panel to avoid added costs and delays. So that should be your first question of the new conveyancers. Our find a solicitor tool should help you find a lender approved lawyer for your home move in Ripley
What advice can you give us when it comes to choosing a Ripley conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Ripley conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Ripley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
How experienced is the practice with lease extension legislation?
I acquired a 1st floor flat in Ripley, conveyancing having been completed 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Ripley with an extended lease are worth £176,000. The ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2099
With 80 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.