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Find a Wigton Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Wigton? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Wigton home move at risk of delay or failure.

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Recently asked questions about conveyancing in Wigton

My partner and I are hoping to buy a property in Wigton and are in fact using a Wigton conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Norwich and Peterborough Building Society have this afternoon contacted us to inform me that there is now an issue as our Wigton solicitor 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 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 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 as you are at liberty to use your preferred Wigton lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

Can the conveyancing solicitors revealed through your ’find a lawyer’ app conduct right to buy conveyancing in Wigton?

We work with a variety of conveyancing conveyancers who can handle right to buy transactions Please call us with a view to secure a conveyancing quote.

I am in the process of refinancing my property in Wigton, does my lawyer need to be on the UBS Solicitor panel?

In theory, you could use a solicitor that is not on the UBS conveyancing panel, but UBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

When it comes to mortgage companies such as Kent Reliance, do Wigton conveyancing practitioners have to pay a fee to be on the conveyancing panel?

We are unaware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.

Completion of my purchase has taken place for my property in Wigton. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?

Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.

My sealed bid on a property in Wigton has been accepted, but there is a chain. The vendors have offered on a property, but it’s not yet agreed to, and are looking at other flats booked. I have chosen a nearby conveyancing solicitor in Wigton. What should be my next step? At what stage should I apply for the mortgage with Lloyds?

It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then valuation, Wigton conveyancing search fees, etc). First, you should check that your conveyancer is on the Lloyds approved list. As to the subsequent steps this very much depends on the specifics of your transaction, desire for this property and on the state of the market. During a buoyant market some buyers will apply for a home loan with Lloyds and pay for the valuation and only if it was satisfactory would they pay their property lawyer to press on with the conveyancing in Wigton.

Should my solicitor be raising questions concerning flooding as part of the conveyancing in Wigton.

The risk of flooding is if increasing concern for solicitors conducting conveyancing in Wigton. There are those who buy a house in Wigton, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Conveyancers are not best placed to give advice on flood risk, but there are a numerous checks that can be undertaken by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Wigton. The conventional set of completed inquiry forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to determine if the property has historically flooded. In the event that the property has been flooded in past and is not notified by the vendor, then a purchaser may bring a compensation claim as a result of such an misleading answer. The purchaser’s solicitors should also order an enviro report. This will reveal if there is any known flood risk. If so, more detailed inquiries will need to be carried out.

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