I am nearing exchange of contracts for my ground floor flat in Burghfield Common and the estate agent has just e-mailed to say that the buyers are changing their law firm. The reason given is that the lender will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with certain law firms rather the firm that they want to choose to handle their conveyancing in Burghfield Common ?
Banks have always had panels of law firms they are willing to work with, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks justify this action to a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. 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 not going to have any sway in the decision.
We're in Burghfield Common, First time buyers buying with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I bought my house on 11 March and the transaction details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Burghfield Common advises it should be dealt with in less than a month. Are transfers in Burghfield Common uniquely lengthy to register?
There is nothing unique about conveyancing in Burghfield Common registration formalities. Rather than based on location, timeframes can vary subject to the party submitting the application, whether it is in order and whether the Land registry have to notify any third persons or bodies. Currently roughly 80% of such applications are fully addressed in less than three weeks but some can be subject to longer delays. Registration is effected after the new owner is living at the premises thus registration formalities is not typically primary concern but if it is urgent that the the registration takes place urgently then you or your solicitor could contact the land registry and explain the circumstances.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Burghfield Common is where the house is located. Is there any guidance you can give?
Flying freeholds in Burghfield Common are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Burghfield Common you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burghfield Common may ascertain 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 residence.
How easy is it to use your search tool to choose a conveyancing lawyer in Burghfield Common on the approved list for my bank?
First pick a lender such as Halifax, Coventry Building Society or Aldermore then choose your location such as Burghfield Common. Conveyancing organisations in Burghfield Common and further afield will then be identified.
How does one remove a deceased person's details from the title deeds for a property in Burghfield Common?
Where a Burghfield Common property is co-owned and one of the proprietors passes away, their name will not immediately be removed from the Land Registry title. You are not required to amend the title as in the event of a disposal you would simply be required to supply proof as to the reason the joint proprietor is missing from the transfer, normally this is in the form of the probate documents.
With the aim of making things more straight forward in the future you can apply to have the deceased party removed from the title register by applying to HMLR with evidence of the death. There is no charge from the Registry for this service.