My wife and I are planning to buy a home in Sherwood and have instructed a Sherwood conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Clydesdale have this afternoon contacted us to advise us that they have now hit a problem as our Sherwood lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is standard 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 property lawyer 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Sherwood solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
My partner and I are purchasing a newly built duplex in Sherwood and my solicitor is telling me that she has to the lender to disclose incentives from the builder. I am under pressure to exchange and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am assisting my aunt sell her property in Sherwood. Will the conveyancer commission an energy performance certificate or it is for me to coordinate?
After the demise of Home Packs, energy performance certificates became a required component of moving property. An EPC must be commissioned before the property is marketed. It is not as aspect of the sale process that lawyers normally organise. Where you are using a Sherwood conveyancing solicitor they may help arrange energy performance certificates given their contacts with long established Sherwood providers
I am selling my apartment. I had a double glazing fitted in February 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Co-operative are being pedantic. The Sherwood solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase house in Sherwood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Sherwood lawyer is on the Nationwide conveyancing panel.
What does a local search tell me concerning the property my wife and I buying in Sherwood?
Sherwood conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company for instance Searches UK The local search is essential in every Sherwood conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
My brother-in-law has suggested I instruct a conveyancing solicitor in Sherwood. I need to find out if they are listed on the bank's conveyancing panel. Can you help?
One option is to contact your conveyancer and ask them if they are on the lender's approved list. Alternatively please call us and we can make some checks for you. If they are not on the bank panel we can certainly arrange a reputable conveyancing solicitor in Sherwood on the panel for your lender.