I am progressing with the sale of my maisonette in Booker and the estate agent has just telephoned to say that the purchasers are swapping conveyancer. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only work with certain lawyers rather the firm that they want to appoint for their conveyancing in Booker ?
Banks have always had panels of law firms that can represent them, but in the last few 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 25 years.
Lending institutions attribute this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to reveal 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.
Some advice if I may. My Booker conveyancer is informing me me that she is duty bound toconduct Booker conveyancing searches resulting from the fact thatthe firm are on the Virgin Moneyconveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Booker conveyancing searches.
Just acquired a terraced house in Booker , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Booker conveyancing solicitor has been very slow, so I want to check the registration is dealt with.
As far as conveyancing in Booker is concerned, registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and whether the Land registry have to notify any third persons or bodies. At present approximately three quarters of such applications are completed within two weeks but some can be subject to longer delays. Registration is effected after the purchaser has moved in to the premises so an expedited registration is not typically an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for the application to be prioritised.
I am looking to sell my home. My past solicitors closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Booker if that affects matters.
Do use our search tool to help you find a solicitor for your conveyancing in Booker. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
My father has suggested that I instruct his conveyancing solicitors in Booker. Do I follow his recommendation?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to get feedback from friends or relatives who have actually used the conveyancer that you are are thinking of instructing.
All being well we will complete the sale of our £250,000 maisonette in Booker next week. The management company has quoted £324 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Booker?
Booker conveyancing on leasehold maisonettes usually involves fees being invoiced by management companies :
Addressing pre-exchange enquiries
Where consent is required before sale in Booker
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Booker Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
How many years are left on the lease? Make sure you investigate if there are any onerous restrictions in the lease. For instance some leases prohibit pets being permitted in certain buildings in Booker. If you love the propertyin Booker however your cat can’t live with you then you have a very hard choice. Please note if it is fewer than 80 years it will impact the salability of the property. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will need to own the premises for a couple of years before you are entitled to extend the lease.