My partner and I are looking to acquire a property in Southmead and are in fact using a Southmead conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Clydesdale have this morning contacted us to inform me that they have now hit a problem as our Southmead conveyancer is not on their conveyancing panel. Is this a problem?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for 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 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 lender’s conveyancing panel and you may continue to use your own Southmead solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are selling our house in Southmead. Does my property lawyer need to be required to be on the Barclays conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Barclays 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 conditions fairly frequently currently.
I need some expedited conveyancing in Southmead as I am faced with an ultimatum to sign on the dotted line within 4 weeks. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at free not to do searches although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Southmead the following are instances of what can appear and therefore impact the marketability of the property: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Southmead I like with a park and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in Southmead in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan that many years will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
I am four weeks into a residential purchase having been recommend to a firm by the selling agent to handle our conveyancing in Southmead. I am am very dissatisfied with the quality of service. Could you you assist me in finding new lawyers?
They would need to be very poor to suggest changing them. Has your mortgage been sent? In the event that it has you need to advise them of the new contact details and get the loan are re-sent. Your new conveyancer should be on the mortgage company panel to avoid added fees and complications. That should be your starting point. Our search tool will assist you in finding a bank approved solicitor for your home move in Southmead