My husband and I decided to purchase a newbuild apartment in Bedford with a mortgage from Nationwide Building Society.We would like to retain our Bedford conveyancing solicitor but Nationwide Building Society advised that she’s not on their approved list of member firms. we are left little option but to use a Nationwide Building Society panel solicitor or retain our preferred solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Nationwide Building Society use our lawyer?
Unfortunately,no. The loan offered to you is subject to its terms and conditions, one of which will be that conveyancers must be on the Nationwide Building Society conveyancing panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Nationwide Building Society
Me and my partner are buying a property in Bedford. I might seem paranoid but how we can trust a lawyer? On completion day we have to put our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bedford
There are many recorded licenced Conveyancers in Bedford and Solicitor partnerships in Bedford offering conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. The two can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
This question may be naive but I am unexperienced as a 1st time purchaser of a ground floor flat in Bedford. Do I receive the keys to the premises on completion from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Bedford?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be able to pick up the keys from the property Agents and move into your new home. Usually this happens early afternoon.
I am selling our property in Bedford and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Bedford conveyancer would know this is not the case. It does beg the question why the purchasers are using a national conveyancing practice as opposed to a conveyancing solicitor in Bedford. Having lived in Bedford for six years we know of no issue. Is it a good idea to contact our local Authority to get confirmation need.
It sounds as though you may have a conveyancing lawyer already. What do they say? You should enquire of 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 health insurance to cover that same sickness)
How does conveyancing in Bedford differ for new build properties?
Most buyers of new build premises in Bedford contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Bedford usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Bedford or who has acted in the same development.
Are there any apps to help identify a Bedford law firm on the Coventry Building Society conveyancing panel? I am a keen cyclist and am prepared to travel upto 20kilometers to meet the lawyer.
You can use the tool on this page. Please choose the bank and your location and you will see a number of Bedford conveyancing lawyers based on proximity. We have detailed some Bedford conveyancing firms towards the end of this page and you can call them to see if they are on the Coventry Building Society member panel