My partner and I are hoping to purchase a flat in South Molton and are in fact using a South Molton 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 morning contacted us to advise us that there is now an issue as our South Molton lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own South Molton solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
How up to date is your search tool for South Molton conveyancing solicitors on the Yorkshire BS conveyancing panel? Do Yorkshire BS send you an updated list?
South Molton conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
I am selling my flat in South Molton. Will the lawyer need to be on the Aldermore conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Hoping to buy a property located in South Molton and I am already nervous. I couldn't find anything specific about South Molton. Conveyancing will be needed in due course but do you know about the South Molton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at South Molton. In the meantime here are some basic statistics that we found
My husband and I are one month into a residential purchase having been directed to a firm by the local agent to do our conveyancing in South Molton. I am am very frustrated with the quality of service. Could you you assist me in finding new lawyers?
They would have to be very poor in order to consider changing them. Has the mortgage offer been issued? If so you must advise them of the new solicitor and ensure the offer are issued to the new lawyers. Your new conveyancer should be on the lenders approved list to avoid supplemental charges and delays. So that should be your starting point. Our search tool will assist you in finding a bank approved lawyer for your home move in South Molton