I am progressing with the sale of my ground floor flat in Ashton and the EA has just text me to advise that the buyers are swapping property lawyer. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with specific lawyers rather the firm that they want to choose for their conveyancing in Ashton ?
UK lenders have always had panels of law firms that can represent them, but in the past 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.
Lenders attribute this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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 not going to have any impact on this.
My partner and I are buying a newly built flat in Ashton and my solicitor is informing me that she has to the lender to disclose incentives from the seller. I am nearing the developer’s deadline to exchange and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The solicitors who dealt with the conveyancing in Ashton 10 years ago have long since closed. What are my next steps?
Nowadays there are duplicates made of almost everything, and your solicitor should know exactly where to look for all the relevant paperwork so you can purchase or dispose of your house without a hitch. If duplicates can’t be located, your conveyancer may be able to arrange cover in the form of insurance or indemnities against future claims on the premises.
I am buying a new build apartment in Ashton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Ashton
Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
What tools are available to search for a Ashton law firm on the Virgin Money conveyancing panel? I drive a motor bike and am prepared to travel upto 25miles to meet the conveyancer.
Feel free to make use of the search on this page. Please pick a mortgage company and your location and you will see a number of Ashton conveyancing lawyers based on proximity. We have detailed some Ashton conveyancing firms at the bottom of this page and you can telephone them to see if they are on the Virgin Money panel
Why do I have to send my lawyer with various items of ID before they can proceed with selling or buying a property in Ashton?
Ashton conveyancers are obliged by the Law Society, SRA, HM Land Registry and current Money Laundering legislation to record that the have checked the identity of their clients. It will also be a requirement of your bank if you are taking a mortgage. In addition they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, NI number and date of birth.