I am selling my home in Broxbourne and the estate agent has just telephoned to advise that the purchasers are changing their conveyancer. The reason given is that the lender will only engage with solicitors on their conveyancing panel. On what basis would a big named mortgage company only engage with specific solicitors rather the firm that they want to choose to handle their conveyancing in Broxbourne ?
UK lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened 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. 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. The buyers are unlikely to have any sway in the decision.
Please help. My Broxbourne lawyer is advising me that he has toapply for Broxbourne conveyancing searches becausethe firm are on the HSBCconveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a home loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Broxbourne conveyancing searches.
It is 10 years ago since I purchased my home in Broxbourne. Conveyancing solicitors have recently been retained on the sale but I am unable to locate the title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be with your lender or they may be archived with the solicitor who oversaw your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Nearly all conveyancing in Broxbourne involves registered property but in the rare situation where your property is not registered it is more tricky but is resolvable.
We are due to move home in September. Does my conveyancing solicitor call the removal company on the completion day. On a separate note, can you recommend a removal company in Broxbourne. Conveyancing solicitor was found before I stumbled across your website.
On the day of completion you can collect the keys from the estate agent however this can only occur once the previous owners solicitors confirm to the agent that they have the completion monies and the keys can be released. You should tell the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can help you find a conveyancing in Broxbourne or a firm with expertise in conveyancing in Broxbourne.
Can you point me to a directory of Leeds Building Society panel solicitors in Broxbourne on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings available over the internet. If you are in need of a Broxbourne property lawyer on the Leeds Building Society please use our tool.
My sealed bid on a house in Broxbourne has been agreed to, the owners do however have a tied purchase. The sellers have put an offer on a flat, but it’s not yet agreed to, and have viewings of other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Broxbourne. What do I do now? When should I get the mortgage application with Principality going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of one thousand pounds, then survey, Broxbourne conveyancing search charges, etc). The first thing to do is ensure that your lawyer is on the Principality conveyancing panel. Concerning the next stages this very much depends on the specifics of your case, motivation for the property and on the state of the market. In a buoyant market many buyers will apply for a home loan with Principality and arrange for the valuation and only if it comes back ok would they request their solicitor to press on with the conveyancing in Broxbourne.
I have been on the look out for a ground for flat up to £195,000 and found one close by in Broxbourne I like with a park and transport links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Broxbourne for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the remaining unexpired lease term may be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Two months into a sale of a flat in Broxbourne. Conveyancing is fine but we are being charged an extortionate amount by the freeholder. So far we have forked out £237 for a leasehold management information and then a further £200 plus VAT for additional queries raised by the buyers property lawyer.
You will not have any say over the level of the fee for this information but the average costs for the information for Broxbourne leasehold property is £395. When it comes to Broxbourne conveyancing deals it is usual for the vendor to pay for these costs. The freeholder or their agents are under no legal obligation to address these questions although many will be willing to do so - albeit often at exorbitant prices disproportionate to the work involved. Unfortunately there is no legislation that mandates fixed fees for administrative tasks. Nor is there any legal time limit by which they are duty bound to issue the information.