My partner and I are hoping to acquire a property in Wolsingham and have instructed a Wolsingham conveyancing firm. 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. Norwich and Peterborough Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Wolsingham solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors 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 Quality 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 as you are at liberty to use your preferred Wolsingham 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.
The Wolsingham conveyancing firm handling our Wolsingham conveyancing has identified an inconsistency between the information in the valuation report and what is revealed within the title deeds. My solicitor says that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do I need to attend the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Wolsingham so that I can pop in to their offices if necessary.
As opposed to 12 years ago, most mortgage companies no longer need their conveyancing panel solicitor to witness the mortgagors signature. It will still be necessary for you to provide ID documents and there are still manifest benefits to choosing a locally based practitioner, in your case a conveyancing solicitor in Wolsingham.
I am downsizing from our property in Wolsingham and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed a web based conveyancing firm rather than a conveyancing solicitor in Wolsingham. We have lived in Wolsingham for six years we know that this is a non issue. Should we contact our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
My husband and I are 3 weeks into a residential purchase having been directed to solicitors by the local agent to execute conveyancing in Wolsingham. I am am very disappointed with the quality of service. Could you you assist me in finding new solicitors?
A solicitor would have to be very poor to suggest replacing them. Has your loan offer been issued? If so you need to inform them of the new contact details and get the mortgage documents are issued to the new lawyers. The solicitor ideally should be on the mortgage company panel to avoid added expenses and complications. So that should be your starting point. The find a solicitor tool can help you find a lender approved solicitor for your home move in Wolsingham