My fiance and I are hoping to buy a house in The Borough and have appointed a The Borough conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Alliance & Leicester have this evening contacted us to inform me that there is now an issue as our The Borough lawyer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors 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 Quality Scheme. Your solicitor 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 lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred The Borough lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Do the conveyancing lawyers that you recommend handle conveyancing in The Borough by way of an attended exchange?
We do have a number of conveyancing specialists carrying out 24hr exchanges. Please call us to obtain a costs illustration and details as to availability.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in The Borough. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/4/2019, the requirements read as follows :
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial land in The Borough?
Its becoming the norm that commercial conveyancing solicitors in The Borough will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in The Borough. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in The Borough.
For each commercial conveyancing transaction in The Borough it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to The Borough commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in The Borough.
Is it the case that all The Borough legal practices on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can pop into your high street lender branch in The Borough. Chances are that they will know some good conveyancing solicitors in The Borough