Me and my partner are purchasing a 1 bedroom apartment in Comberton with a mortgage. We have a Comberton solicitor, but the bank says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Comberton and pay for one of their panel ones to act for them. We feel that this is inequitable; are we not able to require that the mortgage company use our Comberton ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Comberton conveyancing lawyer to apply to be on the conveyancing panel.
Do the Building Society Association intend to launch a online directory to to identify law firms on the conveyancing panel for example in Comberton?
We are not aware of any intention on the part of the BSA to develop such a register.
I moved into my flat on 5 January and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Comberton said it should be recorded in a couple of weeks. Are transfers in Comberton uniquely lengthy to register?
As far as conveyancing in Comberton registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust according to the party submitting the application, whether it is in order and whether the Land registry communicate with any interested persons or bodies. Currently in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be protracted delays. Registration takes place once the new owner is living at the premises so an expedited registration is not typically an essential issue but where it is urgent that the the registration takes place urgently then you or your solicitor must speak with the land registry and explain the circumstances.
How does conveyancing in Comberton differ for newly converted properties?
Most buyers of new build premises in Comberton contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Comberton usually buy the land, 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 conveyancers 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 Comberton or who has acted in the same development.
For various reasons I am unfit to travel my Comberton conveyancing practitioners office to execute documents connected to my conveyancing in Comberton – will this be problematic?
No. Comberton conveyancing solicitors can conduct conveyancing transactions for clients from a distance. It is not necessary for you to be able to visit a Comberton conveyancers office. They can handle everything remotely from their Comberton premises.