My partner and I are hoping to acquire a property in Wymondham and have appointed a Wymondham conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Nationwide Building Society have this evening contacted us to inform me that there is now an issue as our Wymondham lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is conventional 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 Accreditation 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Wymondham lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
It is 10 years ago since I acquired my house in Wymondham. Conveyancing solicitors have now been appointed on the sale but I am unable to find my deeds. Is this a major issue?
You need not be too concerned. First the deeds may be kept by your lender or they may be in the possession of the conveyancers who oversaw your purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Almost all conveyancing in Wymondham involves registered property but in the rare situation where your property is unregistered it is more problematic but is resolvable.
When it comes to mortgage companies such as Leeds Building Society, do Wymondham conveyancing practitioners have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I have decided to exercise my right to buy my property in Wymondham off the council. I have a mortgage offer with HSBC. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
Nationwide have agreed my mortgage in principle, my bid on a flat in Wymondham has been agreed to, what are the next steps?
Your property agent will want to know who your solicitors are (make sure the conveyancers are on the lender’s approved list). Call up Nationwide or your broker and finish off any relevant paperwork. Nationwide will appoint a valuer who will get in touch with the estate agent or owners to book a time for the valuation to happen. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. Nationwide will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Wymondham.
We are buying a property and the conveyancer has identified Chancel Repair to which the house could be obligated to contribute to as it falls into the area of such a church. She has suggested insurance. Is this really appropriate for conveyancing in Wymondham
Unless a prior purchase of the premises took place post 12 October 2013 you may expect solicitors conducting conveyancing in Wymondham to remain encouraging a chancel search and or insurance against a claim.
I need to find a conveyancing solicitor for my conveyancing in Wymondham. I happened to land on a web site which seems to have the ideal offering If it is possible to get all formalities done via phone that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?