I plan on buying a maisonette in Poundbury. My property lawyer is not listed on the mortgage company conveyancing panel. Am I still permitted to retain my Poundbury conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
You have a couple of choices open to you here
- Proceed with your preferred Poundbury but your bank will need to use a on their approved panel. The net result is additional cost and likely frustration.
- Appoint a fresh to conduct the conveyancing, obviously checking they are on the mortgage company conveyancing panel.
- Appeal to your to attempt to join the mortgage company panel
Completed the sale of my flat in Poundbury last May yet the purchaser is calling daily to say their lawyer needs to hear from mysolicitor. What should my lawyer have done following completion?
Following your disposal your solicitor is obliged to deliver the transfer deeds and all of the paperwork to the buyer’s solicitors. If applicable, your conveyancer must also send confirmation that the legal charge in favour of the lender has been redeemed to the purchasers conveyancers. There are no post completion formalities specific conveyancing in Poundbury.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Conveyancing panel ahead of completing my conveyancing in Poundbury?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
How does conveyancing in Poundbury differ for new build properties?
Most buyers of new build property in Poundbury approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is built. This is because developers in Poundbury 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 property lawyers 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 Poundbury or who has acted in the same development.
I am thinking of appointing a conveyancing lawyer in Poundbury for my sale. Can I see a solicitor's complaints history with the legal regulator?
You may see documented Solicitor Regulator Association (SRA) decisions stemming from inquisitions commenced on or after Jan 2008. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA could monitor call for training purposes.