I have just been advised by my lender that my Norwich solicitor is not on the bank Conveyancing panel. How can I be certain that this is indeed the case?
Your first step should be to contact your Norwich lawyer directly. You lawyer should notify you what has happened. Where they are not on the panel they may recommend you to a Norwich conveyancing firm that is on the conveyancing panel for your mortgage company.
After reading online forums for a cheap solicitor in Norwich, many say that I must look for a CQS kitemarked solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in the legal transfer of properties, trusted by some of the UK's leading mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). The scheme does not cover licenced conveyancers. Norwich is one of the numerous areas of the UK where there are CQS solicitors.
There are numerous conveyancing solicitors in Norwich but how do I know who I should use?
It would be unwise to be swayed by the lowest Norwich conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
This question may be naive but I am unexperienced as FTB of a ground floor flat in Norwich. Do I receive the keys to the property on completion from my lawyer? If so, I will find a High Street conveyancing solicitor in Norwich?
On the day of completion you will not be required to attend the conveyancers office in Norwich. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s lawyers, and once they have received this, you should be called to collect the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
Nottingham have agreed my mortgage in principle, my offer on a house in Norwich has been accepted, what are the next steps?
Your property agent will want to know who your solicitors are (make sure the conveyancers are on the bank’s approved list). Contact Nottingham or your broker and complete any relevant paperwork. Nottingham will appoint a valuer who will get in touch with the estate agent or owners to book a slot for the valuation to occur. Once carried out (assuming no problems) it takes about a week to receive the mortgage offer. Nottingham will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Norwich.
I have been told that property searches are the primary reason for hinderance in Norwich conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Norwich.
How does conveyancing in Norwich differ for new build properties?
Most buyers of new build or newly converted property in Norwich come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Norwich usually acquire the site, 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 conveyancers 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 used to new build conveyancing in Norwich or who has acted in the same development.