My partner and I are looking to purchase a home in Rumney and are in fact using a Rumney conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Leeds Building Society have this morning contacted us to inform me that they have now hit a problem as our Rumney lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual 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 Quality 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Rumney solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I am need of leasehold conveyancing for a flat in a relatively new development (seven years built) in Rumney. The vast majority the appartments are already occupied. Is it strictly necessary to order neighbourhood searches as part of conveyancing in Rumney?
You would be taking a significant risk in not carrying out Rumney conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would seriously advise in no uncertain terms that your lawyer conducts them. If speed and driving down costs are primary issues you should consider with your conveyancer about the options such as indemnity insurance available to you
When will exchange of contracts occur in sale conveyancing in Rumney and do I need to attend the conveyancers branch?
Where you are near to our conveyancing solicitors in Rumney you are welcome to come in to sign documents. That being said, the lender approved solicitors we recommend provide a countrywide conveyancing service and give just as detailed and professional a job for you when dealing with you digitally. The executing of the property agreement is not the point of no return. A signed contract simply enables the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Rumney)to be in the office at the appropriate time.
We just had an offer accepted to purchase with Earl Shilton BS. I went into a couple of local practices but am struggling to find a Rumney conveyancing firm on the Earl Shilton BS approved list. Could you assist?
Please do take advantage of the search tool on this page. Please choose the mortgage company and type Rumney or your preferred area and you will see numerous conveyancers offices in Rumney or near you.
Due to the input of my in-laws I had a survey completed on a property in Rumney in advance of appointing solicitors. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks tend refuse to give a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rumney. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rumney to see if the conveyancing costs will increase in light of this.