I am progressing with the sale of my flat in Accrington and the estate agent has just telephoned to warn that the purchasers are switching solicitor. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. On what basis would a major mortgage company only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Accrington ?
Lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders attribute this action to a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say 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. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
The Accrington conveyancing firm that just started acting on my purchase in Accrington have without warning closed. I only went with them because I needed a firm on the RBS conveyancing panel and my previous Accrington lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the RBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial premises in Accrington?
Many commercial conveyancing solicitors in Accrington will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Accrington. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Accrington.
For each commercial conveyancing transaction in Accrington it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Accrington commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Accrington.
Are there restrictive covenants that are commonly identified during conveyancing in Accrington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Accrington. 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…’
I decided to have a survey done on a house in Accrington before appointing conveyancers. I have been informed that there is a flying freehold element to the property. The surveyor advised that some mortgage companies tend refuse to give a mortgage on this type of house.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Accrington. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are new to the buying process - had an offer accepted, but the selling agent informed us that the seller will only move forward if we instruct their recommended conveyancers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor with experience of conveyancing in Accrington
We suspect that the owner is unaware of this demand. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Accrington conveyancing lawyers - as opposed tothose that will provide the negotiator at the agency a kickback or hit his conveyancing thresholds pre-set by head office.