I am nearing exchange of contracts for my home in Birchington and the estate agent has just telephoned to advise that the buyers are changing their law firm. The reason given is that the lender will only work with solicitors on their conveyancing panel. Why would a leading lender only deal with certain law firms rather the firm that they want to select to handle their conveyancing in Birchington ?
Lenders have always had panels of law firms that can represent them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lenders point to the increase in fraud by way of justification for the cull – 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 hearing daily from firms 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. The purchasers are not going to have any sway in the decision.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather instruct a Birchington based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers if you want the "fee-free" offer. Contact the bank to check if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Birchington.
Should commercial conveyancing searches disclose planned roadworks that may affect a commercial premises in Birchington?
Many commercial conveyancing solicitors in Birchington will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Birchington. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Birchington.
For each commercial conveyancing transaction in Birchington it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Birchington commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Birchington.
I have a 4 bedroom Georgian house in Birchington. Conveyancing practitioner represented me and Yorkshire Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Birchington and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing practitioner who conducted the work.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Birchington is where the house is located. What do you suggest?
Flying freeholds in Birchington are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Birchington you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Birchington may decide 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 property.
I have been searching for Birchington conveyancing quotes online. Can I be confident that all the Birchington firms that are identified on your directory are on the lender conveyancing panel?
The law firms on our directory have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Birchington conveyancing solicitor being on the mortgage company conveyancing panel is not accurate.