I am selling my ground floor flat in Burnley and the estate agent has just called to say that the buyers are switching conveyancer. The reason given is that the mortgage company will only engage with solicitors on their approved list. On what basis would a leading lender only work with certain lawyers rather the firm that they want to select for their conveyancing in Burnley ?
Banks have always had panels of law firms they are content 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 acted for them for more than 15 years.
Lending institutions blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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 purchasers are unlikely to have any impact on this.
About to place a bid on a leasehold flat in Burnley. The selling agents say that it is the norm for flats in Burnley to have less than 75 years remaining. I am expecting a mortgage with Virgin. Will the property be mortgageable given that the lease has 69 years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 17/9/2020 the requirements read as follows :
We are planning to move house in December. Should my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you put forward a removal company in Burnley. Conveyancing solicitor was chosen prior to coming across your site.
On the day of completion you can pick up the house keys from your estate agent but this can only take place once the previous owners lawyers confirm to the agent that the monies to complete are in and the keys can be released. After that you should advise the removal men that they can start moving you in. We are not in a position to suggest a particular removal company but can assist you in choosing a residential property solicitor in Burnley or a legal practice that specialises in conveyancing in Burnley.
I am the single recipient of my late father’s will and I have everything in my name alone, including the house in Burnley. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership will be considered the same way as if I'd bought the house in August. Do I have to wait 6 months to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. Most banks would take a practical view as this obligation is primarily there to pick up on the purchase and immediately sell or the flipping of property.
My offer was accepted on an apartment in Burnley on 28/7/2020, valuation was booked 4 days after, received a clean bill of health. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Co-operative and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Co-operative conveyancing panel. Are Co-operative entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
I moved into my flat on 11 August and my personal details is not yet registered. Need I be worried? My conveyancing solicitor in Burnley expressed confidence that it would be dealt with in a couple of weeks. Are transfers in Burnley uniquely lengthy to register?
As far as conveyancing in Burnley is concerned, registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether there are errors and if the Land registry need to notify any third parties. At present in the region of 80% of such applications are fully dealt with in less than three weeks but some can be subject to longer delays. Registration occurs once the purchaser is living at the property thus 'speed' is not always top priority yet 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 need to retain a conveyancing solicitor for freehold conveyancing in Burnley. I have discover a site which looks to be the ideal solution If it is possible to get all the legals done via phone that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do online conveyancing organisations do everything a high street Burnley solicitor does or do I still need to retain a solicitor for the final stages for my conveyancing in Burnley?
Where you use an online conveyancer they will undertake all the tasks your Burnley conveyancer would cover.