I am nearing exchange of contracts for my flat in Aston on Trent and the estate agent has just text me to advise that the buyers are switching solicitor. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major lender only deal with specific lawyers rather the firm that they want to choose to handle their conveyancing in Aston on Trent ?
Banks have always had panels of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. 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. Plenty of firms 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.
What will a local search tell me about the property I am purchasing in Aston on Trent?
Aston on Trent conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as Xpress Legal The local search is essential in every Aston on Trent conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (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 thirteen topic headings.
I acquired my flat on 2 April and my personal details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Aston on Trent said it will be dealt with inside ten days. Are transfers in Aston on Trent uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Aston on Trent registration formalities. Rather than based on location, timeframes can vary depending on the party submitting the application, whether it is in order and whether the Land registry must send notices to any 3rd parties. Currently in the region of 80% of submission are fully addressed within 12 days but some can be subject to longer hold-ups. Historically registration occurs after the buyer is living at the property therefore 'speed' is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.
How does conveyancing in Aston on Trent differ for newly converted properties?
Most buyers of new build property in Aston on Trent contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Aston on Trent 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 Aston on Trent or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Aston on Trent ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some lenders may not issue a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you contact us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Aston on Trent. Conveyancing will be smoother if you use a solicitor in Aston on Trent especially if they are accustomed to such properties in Aston on Trent.
I'm selling a house in Aston on Trent. I can find my conveyancer's company on the Law Society's list, but I can't see my conveyancer's name as listed on the regulator's website. Should I be concerned?
Not every individual in the practice must be listed by the regulator. As long there is someone qualified to 'oversee' the transaction, the actual day-to-day activity can be conducted by unqualified staff.