I am nearing exchange of contracts for my home in Ardwick and the EA has just called to warn that the purchasers are changing their property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. On what basis would a leading lender only engage with certain law firms rather the firm that they want to appoint to handle their conveyancing in Ardwick ?
Lenders have always had panels of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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. Your buyers are unlikely to have any impact on this.
I am buying a property mortgage free in Ardwick. I have been residing for the last twelve years in Ardwick. Conveyancing searches are a lot of money. Given that I know the area and road very well must I have all the conveyancing searches?
In the absence of a home loan, then the vast majority of the Ardwick conveyancing searches are non-obligatory. Your lawyer will try and steer you, perhaps strongly, that you should have searches done, but she is duty bound to do this. One thing to bear in mind; if you are intend to dispose of the house at a future date, it may be of relevance to your prospective purchaser what the searches determine. Sometimes premises with day to day issues can still throw up negative search results. A competent conveyancing solicitor in Ardwick will be able to give you some helpful guidance concerning this.
How does conveyancing in Ardwick differ for new build properties?
Most buyers of new build residence in Ardwick contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Ardwick tend to 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 accustomed to new build conveyancing in Ardwick or who has acted in the same development.
What does commercial conveyancing in Ardwick cover?
Ardwick conveyancing for business premises covers a broad range of services, provided by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
My step-father has suggested that I instruct his lawyers for conveyancing in Ardwick. Should I find my own solicitor?
There are no two ways about it it’s preferable to find a conveyancing solicitor is to seek referrals from friends or relatives who have actually used the firm you're are thinking of instructing.
Are the Ardwick conveyancing lawyers identified as being on the mortgage company conveyancing panel, together with their details provided by the bank?
Ardwick law firm practices and firms conducting conveyancing in Ardwick themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.