I am one month into the sale of my home in Birstall and the estate agent has just text me to say that the buyers are switching property lawyer. The reason given is that the mortgage company will only engage with solicitors on their approved list. On what basis would a big named mortgage company only work with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Birstall ?
Banks have always had an approved set of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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.
When does exchange of contracts happen for domestic conveyancing in Birstall and do I need to be at the solicitors branch?
Where you are near to one of the conveyancing solicitors in Birstall you are welcome to come in to sign documents. However, the law practices we work with provide countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when communicating with you by post or email. The signing of the purchase agreement is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Birstall)to be in the office available at the end of the phone to exchange contracts.
We are planning to move home in October. Should my conveyancing solicitor update the removal company on the completion day. Incidentally, can you recommend a removal company in Birstall. Conveyancing lawyer was chosen prior to coming across this website.
On the day of completion you can pick up the house keys from the selling agent however this can only be done once the previous owners lawyers confirm to the agent that the monies to complete are in and the keys can be collected. You can inform the removal company that you are ready to move in. As a matter of policy we do not suggest a particular removal company but can assist you in finding a residential property solicitor in Birstall or a lawyer with expertise in conveyancing in Birstall.
I happen to be the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the my former home in Birstall. Conveyancing formalities meant that the Land Registry date was in July. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the house in July. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Some lenders would take a pragmatic view as this requirement principally exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
How can we tell if a Birstall conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Birstall getting recommendations is a sensible 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 advertising the lowest fees. We would always suggest that you speak with the lawyer conducting your transaction.
five months have gone by following my purchase conveyancing in Birstall took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Birstall with a loan from Leeds Building Society. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not reveal to my solicitor about this side-deal as it will adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Fiveweeks into a sale of a flat in Birstall. Conveyancing is fine but we are being charged an extortionate amount from the landlord. So far we have forked out £275 for a leasehold management information and then a further £134.40 for supplemental queries supplied by the buyers conveyancing practitioner.
You will not have any say over the extent of the bill for this information but the average costs for the information for Birstall leasehold property is £380. For Birstall conveyancing deals it is usual for the owner to cover the charges. The landlord or their agents are under no statutory obligation to answer these questions although many will agree to do so - albeit often at exorbitant prices out of proportion to the work involved. Unfortunately there is no statute that mandates fixed charges for administrative tasks. Neither is there any statutory time frame by which they are required to provide the information.