I am in the process of selling my maisonette in Arundel and the EA has just telephoned to say that the purchasers are swapping law firm. I am told that this is due to the fact that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only engage with specific solicitors rather the firm that they want to choose to handle their conveyancing in Arundel ?
Lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Mortgage companies attribute this action to a rise in fraud by way of justification for the reduction – criteria have been tightened 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 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 purchasers are unlikely to have any impact on this.
We previously chose solicitors with offices in Arundel on the TSB solicitor panel. They have just invoiced me an additional sum for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner is entitled to levy a fee for this. The charge is not dictated by TSB but by your Arundel lawyer. Plenty of firms on the TSB panel will quote an ‘acting for lender’ fee and others do not.
Can I be sure that the Arundel conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Arundel seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor carrying out your conveyancing.
I have decided to exercise my right to buy my property in Arundel off the council. I have a mortgage offer with Aldermore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
Are there restrictive covenants that are commonly identified as part of conveyancing in Arundel?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Arundel. 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…’
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Arundel is the location of the property. Is there any advice you can impart?
Flying freeholds in Arundel are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Arundel you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Arundel may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Hoping to buy a property located in Arundel and I am already nervous. I couldn't find anything specific about Arundel. Conveyancing will be needed in due course but do you know about the Arundel area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Arundel. In the meantime here are some basic statistics that we found
We are a couple of weeks into a leasehold purchase having been referred to a firm by the estate agent to do our conveyancing in Arundel. We are not happy. Can you you assist me in finding new lawyers?
They would have to be really poor to suggest changing them. Has your loan offer been issued? In the event that it has you must advise them of the new contact details and get the loan are re-issued. Your new solicitor ideally needs to be on the lenders panel to avoid supplemental charges and frustration. That should be your first question of the new solicitors. The find a solicitor tool will help you find a bank approved lawyer for your home move in Arundel