I am six weeks into the sale of my apartment in Bagshot and the estate agent has just telephoned to warn that the buyers are changing their property lawyer. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a major lender only work with certain law firms rather the firm that they want to select for their conveyancing in Bagshot ?
Lenders have always had panels of law firms they are willing 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 acted for them for more than 15 years.
Lenders point to the increase in fraud as the reason for the cull – 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 hearing daily from firms 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 purchasers are unlikely to have any impact on this.
When can the exchange of contracts happen for domestic conveyancing in Bagshot and am I required to attend the conveyancers branch?
Where you are in close proximity to our conveyancing solicitors in Bagshot you are welcome to come in to sign documents. That being said, the law practices we recommend provide a countrywide conveyancing service and provide as equally detailed and professional a job for you when communicating with you by post or email. The executing of the contract is not when everything is set in stone. A signed contract is necessary for the firm to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bagshot)to be in the office available at the end of the phone to exchange contracts.
My brother-in-law has suggested I instruct a conveyancing solicitor in Bagshot. I need to find out if they are on the Leeds Building Society conveyancing panel. Could you advise?
The first thing you should do is contact your conveyancer and enquire if they are on the lender panel. Alternatively you should get in touch with Leeds Building Society who may be able to help.
Despite weeks of looking the Title Certificate and documents to my home are lost. The conveyancers who conducted the conveyancing in Bagshot 5 years ago are no longer around. Will I be able to sell the house?
Gone are the days when you need to have the physical deeds to evidence that you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Bagshot is where the house is located. What do you suggest?
Flying freeholds in Bagshot are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bagshot you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bagshot 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 premises.
My partner has suggested that I instruct his lawyers for conveyancing in Bagshot. Should I find my own property lawyer?
Much as we are happy to recommend a Bagshot conveyancing lawyer it’s preferable to find a conveyancing lawyer is to get guidance from friends or relatives who have previously instructed the conveyancer that you are are thinking of instructing.