I am nearing exchange of contracts for my apartment in Aigburth and the EA has just text me to advise that the purchasers are changing their conveyancer. The reason given is that the mortgage company will only engage with solicitors on their approved list. On what basis would a big named mortgage company only engage with certain lawyers rather the firm that they want to select to handle their conveyancing in Aigburth ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lending institutions attribute this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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 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. Your purchasers are unlikely to have any impact on this.
Please could you recommend a Yorkshire Building Society approved Aigburth conveyancing practice finish our house move within less than a month? Would it be better to use a high street Aigburth firm or an online comparison site?
We would be happy to suggest some excellent Aigburth conveyancing firms. You can also walk up the main road in Aigburth. Approach a couple of firms and ask to see a conveyancing solicitor for a costs illustration. Mention your requirements together with the reasons and get a commitment on your deadline. Appoint the lawyer that you trust.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Aigburth. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 16/4/2024, the requirements read as follows :
What will a local search reveal about the property my wife and I purchasing in Aigburth?
Aigburth conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search plays a central role in most Aigburth conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search will supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
How does conveyancing in Aigburth differ for newly converted properties?
Most buyers of new build or newly converted property in Aigburth approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because developers in Aigburth typically purchase 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 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 accustomed to new build conveyancing in Aigburth or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Aigburth prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies may not give a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Aigburth. Conveyancing will be smoother if you use a solicitor in Aigburth especially if they regularly deal with such properties in Aigburth.