My partner and I are planning to buy a home in Solihull and are in fact using a Solihull conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Chelsea Building Society have this evening contacted us to advise us that they have now hit a problem as our Solihull solicitor is not on their approved list of lawyers. Please explain?
Where you are buying a property needing a mortgage it is standard for the purchasers' lawyers to also represent 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 Accreditation 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 Solihull solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
What does my ID and proof of funds have anything to do with my conveyancing in Solihull? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you are required to sign should stipulate this. Your lender will also require certain documents to be checked. Where you refuse to supply identification documents, your solicitor can not take you on as a client.
We wanted to use a property lawyer in Solihull for our house move. Our financial adviser informed us that our bank HSBC Bank won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies normally imposes restrictions either the category or the volume of conveyancing practices on their approved list of lawyers. A common example of such criteria being that a law practice must not be a sole practitioner. In addition to restricting the type of firm, a few lenders have decided to limit the number of solicitor practices they permit to act for them. Be aware that HSBC Bank have no responsibility for the quality of advice provided by any member of HSBC Bank Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there are mixed opinions concerning the level of solicitor involvement in some of that fraud. Data from the Land Registry indicate that hundreds of law firms, including some in or near Solihull only carry out one or two conveyances per annum.
How can we tell if a Solihull conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Solihull obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer handling your conveyancing.
My wife and I have organised a further advance on our home loan from Nottingham as we intend to conduct improvements to our home in Solihull. Are we obliged to choose a nearby Solihull solicitor on the Nottingham conveyancing panel to handle the legals?
Nottingham do not ordinarily instruct 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 Nottingham conveyancing panel.
My fiancee and I are spending time looking at apartments in Solihull and I am now considering a potential offer. Is it advisable to have my conveyancing practitioner on ‘stand by’? I will be getting a home loan with Virgin Money.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are getting a mortgage with Virgin Money, make sure you remember to check that your lawyer is on the Virgin Money conveyancing panel.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a house in Solihull? or I am told that there is historic law that means some owners of property living in a parish church boundary will be compelled to pay for repairs towards the chancel within the church. Is this a legitimate concern for conveyancing in Solihull?
Unless a prior purchase of the house completed after 12 October 2013 you can take it that conveyancing practitioners handling conveyancing in Solihull to continue to suggest a chancel search and or insurance against a claim.