My fiance and I are planning to buy a flat in Chard and are in fact using a Chard conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Barnsley Building Society have this afternoon contacted us to advise us that there is now an issue as our Chard lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also act for 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 property lawyer should contact your lender 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 lender’s conveyancing panel and you may continue to use your own Chard solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Chard is the location of the property. What do you suggest?
Flying freeholds in Chard are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chard you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chard 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 premises.
Should I be wary that third parties that I am dealing with are recommending an internet conveyancing firm rather than a High Street Chard conveyancing firm?
As is the case with lots of service providers, often referrals from family and friends can be most helpful. Nevertheless there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest lawyers to select. Sometimes the solicitors might be known to one of the organisations as being good in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You are at liberty to appoint your own lawyer. Don't forget that most mortgage providers have an approved list of solicitors you are obliged to use for the lender aspect of your home move.
My husband and I are novice buyers - agreed a price, yet the estate agent has warned us that the vendor will only move forward if we instruct their chosen conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer who is accustomed to conveyancing in Chard
We suspect that the seller is not behind this requirement. If they desire ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you are going to use your own,trusted Chard conveyancing lawyers - rather thanthose that will give their estate agent a referral fee or meet his conveyancing thresholds demanded by corporate headquarters.
I have been searching for Chard conveyancing quotes online. Can I be sure that all the Chard firms that are identified on your directory are on the lender conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the mortgage company panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific Chard conveyancing solicitor being on the mortgage company conveyancing panel is incorrect.