I am progressing with the sale of my apartment in Brighton and the EA has just text me to say that the buyers are appointing a new solicitor. The excuse is that the lender will only work with solicitors on their conveyancing panel. On what basis would a big named lender only engage with certain solicitors rather the firm that they want to choose to handle their conveyancing in Brighton ?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks blame a rise in fraud by way of justification for the reduction – 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. 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. The buyers are not going to have any impact on this.
We are purchasing a property and need a conveyancing solicitor in Brighton who is on the Virgin Money solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Brighton.
My fiance and I are purchasing a newbuild apartment in Brighton with a loan from Aldermore.We like our Brighton conveyancing solicitor but Aldermore informed us she’s not on their approved list of firms. we are left little option but to use a Aldermore panel lawyer or keep our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan offered to you contains various provisions, one of which will be that conveyancers must be on the Aldermore approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Aldermore
Due to the advice of my in-laws I had a survey completed on a property in Brighton before retaining solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some lenders may refuse to give a loan on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Brighton. Conveyancing may be slightly more expensive based on your lender's requirements.
How easy is it to use your search app to get a costs illustration from a conveyancing solicitor in Brighton on the approved list for my lender?
Step one is to choose a bank such as Nationwide Building Society, Bank of Scotland or Bank of Ireland then choose your preferred area for example Brighton. Conveyancing organisations in Brighton and across England and Wales will then be identified.
Estate agents have just been given the go-ahead to market my basement flat in Brighton.Conveyancing solicitors are to be appointed soon however I have recently received a half-yearly maintenance charge demand – what should I do?
It best that you pay the invoice as normal because all ground rent and service invoices should be allottedon completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process