My fiance and I are looking to purchase a home in Rothwell and have appointed a Rothwell conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. HSBC Bank have this afternoon contacted us to advise us that they have now hit a problem as our Rothwell lawyer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is normal for the purchasers' solicitors to also represent the mortgage company. 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 bank 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Rothwell lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Do the conveyancing lawyers that are recommend carry out auction conveyancing in Rothwell?
There are a number of auction lawyers we can connect you with those specialising in auction conveyancing. Rothwell is just one of our locations where our lawyers are based.
Can I use your services to recommend a Conveyancing solicitor in Rothwell even if I’m not purchasing or disposing of a house, for instance where I wish to acquire a shop in Rothwell with a loan from Accord Mortgages Ltd?
Our search tool is predominantly utilised to select domestic conveyancing solicitors in Rothwell but we have set out at the bottom of this page some Rothwell commercial conveyancing firms. You should make contact with the firm directly to see if they can also act for Accord Mortgages Ltd
I have been told that property searches are the number one reason for hinderance in Rothwell conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Rothwell.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Rothwell is the location of the property. Can you shed any light on this issue?
Flying freeholds in Rothwell are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Rothwell you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rothwell may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.