I am selling my house in Hingham and the estate agent has just text me to say that the purchasers are switching property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their conveyancing panel. On what basis would a big named lender only deal with certain lawyers rather the firm that they want to appoint for their conveyancing in Hingham ?
UK lenders have always had panels of law firms that can represent them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions attribute this action to a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
As someone unfamiliar with the Hingham conveyancing process what’s the number one tip you can give me for the legal transfer of property in Hingham
You may not hear this from too many lawyers but conveyancing in Hingham or throughout Norfolk is an adversarial experience. In other words, when it comes to conveyancing there exists lots of room for conflict between you and other parties involved in the transaction. For example, the seller, selling agent and sometimes the lender. Choosing a solicitor for your conveyancing in Hingham is a critical decision as your conveyancer is your adviser, and is the ONLY person in the process whose role it is to protect your best interests and to keep you safe.
We are witnessing a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. You must always trust your lawyer ahead of all other parties in the conveyancing process.
Are there restrictive covenants that are commonly picked up during conveyancing in Hingham?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hingham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Hingham differ for new build properties?
Most buyers of new build or newly converted property in Hingham approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Hingham typically acquire 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 property lawyers 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 Hingham or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Hingham in advance of instructing solicitors. I have been told that there is a flying freehold element to the house. The surveyor advised that some banks will not grant a mortgage on this type of house.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hingham. Conveyancing will be smoother if you use a solicitor in Hingham especially if they are accustomed to such properties in Hingham.
Given that I will soon spend over three hundred thousand on a terraced house in Hingham I wish to talk to a lawyer regarding thehome move prior to giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your property ownership legalities in Hingham.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Hingham should be the amount on the final invoice that you end up paying.