My husband and I are planning to purchase a flat in Rochford and have appointed a Rochford conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Godiva Mortgages Ltd have this evening contacted us to inform me that they have now hit a problem as our Rochford conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also act for 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 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 bank's conveyancing panel and you may continue to use your own Rochford solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We're in Rochford, First time buyers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
This question may be naive but I am new to the process as a first time purchaser of a ground floor flat in Rochford. Do I receive the keys to the house on completion from my lawyer? If this is the case, I will instruct a local conveyancing solicitor in Rochford?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you will be invited to pick up the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
My partner and I have organised a further advance on our mortgage from Barclays as we wish to conduct alterations to our home in Rochford. Are we obliged to select a high street Rochford solicitor on the Barclays conveyancing panel to handle the legals?
Barclays would not normally require firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays conveyancing panel.
We expect to receive a AIP from Aldermore 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 Aldermore recommend any Rochford solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Rochford solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
How does conveyancing in Rochford differ for new build properties?
Most buyers of new build property in Rochford 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 developers in Rochford usually buy 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 property lawyers 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 Rochford or who has acted in the same development.
My husband and I are 17 days into a leasehold purchase having been referred to solicitors by the high street agent to do our conveyancing in Rochford. I am not happy. Can you you assist me in finding new lawyers?
A conveyancer would need to be really bad in order to consider diss instructing them. Has the mortgage been issued? If so you must make them aware of the new contact details and ensure the offer are re-issued. The conveyancer needs to be on the banks panel to avoid added charges and complications. So that should be your first question of the new lawyers. The find a solicitor tool will help you find a bank approved solicitor for your conveyancing in Rochford