I am not well enough to travel far from Ripley. I would like to know the logic why all Ripley property lawyers aren't automatically on all mortgage company panels?

Lenders tend to impose restrictions on either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such criteria being that the practice must have two or more partners. As well as restricting the structure of firm, some lenders decided to limit the number of firms they allow to represent them. It is worth noting that mortgage companies have no liability for the standard of conveyancing given by any Ripley lawyer on their approved list. Property fraud was a key driver in the reduction of solicitor panels in the last decade even though there are contrary thoughts about the extent of solicitor involvement in some of that fraud. Statistics published by HM Land Registry indicates that thousands of conveyancing organisations only transact less than three conveyances a year. Those supporting conveyancing panel cuts question why conveyancing firms deserve any entitlement to be listed on a conveyancing panel when clearly property law is not their primary expertise?

I do hope you can help me. My Ripley lawyer is informing me me that he has toconduct Ripley conveyancing searches becausethe firm are on the Virgin Moneyconveyancing panel. Is my conveyancer correct?

You have limited options available to you. Given that you are taking out a loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Ripley conveyancing searches.

Will conveyancers ask for an advanced payment for conveyancing in Ripley?

If you are buying a property in Ripley your lawyer will request that you place them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is as part of the total price then this will be required immediately in advance of contracts are exchanged. The final balance that is needed will be payable a few days prior to the day of completion.

How does conveyancing in Ripley differ for newly converted properties?

Most buyers of new build property in Ripley approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Ripley tend to purchase 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 used to new build conveyancing in Ripley or who has acted in the same development.

Finally our conveyancing in Ripley is completing next Friday, yet the owners I am purchasing off wishes to move out on the Saturday midday. Do I agree to such a plan?

Where you require a bank loan then your lawyer will require that you have vacant possession on Friday - the mortgage company will require it.