My wife and I are hoping to buy a home in Chaddesden and have instructed a Chaddesden conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Chelsea Building Society have this afternoon contacted us to inform me that there is now an issue as our Chaddesden solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors 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 Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Chaddesden lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Can you suggest a Coventry Building Society accepted Chaddesden conveyancing solicitor who can have us moved in within a short deadline? Would it be better to use a high street Chaddesden solicitor or a factory type conveyancer?
We can recommend some very good Chaddesden conveyancing firms. You can also walk up the main road in Chaddesden. Go in to two or three firms and request to speak with a conveyancing solicitor for a costs illustration. Mention your time frames together with your reasons and get a commitment on speed. Choose the lawyer that you are most comfortable with.
We are planning to buy with Melton Mowbray Building Society. I popped in 3 or 4 high street companies but am unable to find a Chaddesden conveyancing firm on the Melton Mowbray Building Society panel. Please you assist?
You should take advantage of the find a conveyancing panel solicitor tool on this web page. Please choose the mortgage company and type Chaddesden or your location and you will discover a number of lawyer located in Chaddesden or near you.
Should my conveyancer be making enquiries regarding flooding during the conveyancing in Chaddesden.
Flooding is a growing risk for solicitors dealing with homes in Chaddesden. Some people will acquire a house in Chaddesden, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a numerous searches that may be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Chaddesden. The standard completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to determine if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the owner, then a buyer could bring a legal claim for losses as a result of such an misleading reply. The buyer’s lawyers should also conduct an enviro report. This will disclose if there is any known flood risk. If so, further inquiries should be initiated.
How does conveyancing in Chaddesden differ for new build properties?
Most buyers of new build premises in Chaddesden approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because house builders in Chaddesden tend to 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 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 Chaddesden or who has acted in the same development.