My fiance and I are hoping to acquire a house in Kingstanding and are in fact using a Kingstanding conveyancing practice. 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. Coventry Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Kingstanding conveyancer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also act for 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 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 Kingstanding lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I am in a contract race with another buyer for a property in Kingstanding. What can I do to speed up matters?
In the event that the seller is applying a tight deadline for your conveyancing it is highly recommended that your conveyancer is familiar with the area as they will benefit local connections and knowledge. It is possible that they could have conducted otherproperties in the same road. You would be best advised to use a Kingstanding conveyancing firm. In addition, make sure that the conveyancing firm is on the lender panel. It is believed that 18% of Kingstanding conveyancing deals are delayed or derailed after discovering a buyer’s lawyer was not on their mortgage lender’s panel. In many cases this discovery resulted in the legal transfer of property being frustrated by as much as 21 days. It is said that this issue impacts in the region of 100,000 home moves annually. Almost all Kingstanding conveyancing firms can not represent certain mortgage companies so do check as early as possible.
We are looking to buy a house and require a conveyancing solicitor in Kingstanding who is on the Santander solicitor panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Santander . We don't recommend any particular firms conducting conveyancing in Kingstanding.
My lawyer has informed me that lack of building regulations insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Kingstanding?
The appropriate level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between HSBC Bank and Coventry Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
The formalities of my remortgage has taken place for my property in Kingstanding. 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?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel 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.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Kingstanding bank branch on various occasions and was advised it wasn't a problem and they will lend. My Kingstanding conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their specific requirements. Who do I believe?
Your solicitor has to comply with the Council of Mortgage Lenders’ Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have todayfound out that Stirling Law have been shut down. They carried out my conveyancing in Kingstanding for a purchase of a freehold house 18 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The easiest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Kingstanding conveyancing specialists.