I am one month into the sale of my apartment in Chandlers Ford and the EA has just telephoned to warn that the purchasers are swapping law firm. I am told that this is due to the fact that the lender will only work with solicitors on their approved list. On what basis would a leading lender only deal with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Chandlers Ford ?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lenders 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 claims that it is hearing daily from firms that have been removed from panels. Some do not even realise 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 note that you have a post code search directory listing firms on the Kent Reliance conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Chandlers Ford?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Chandlers Ford.
Various online forums that I have come across warn that are the primary cause of hinderance in Chandlers Ford house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Chandlers Ford.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Chandlers Ford I like with amenity areas and transport links nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Chandlers Ford suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I am four weeks into a residential purchase having been recommend to solicitors by the selling agent to carry out the conveyancing in Chandlers Ford. I am not happy. Could you help me find new solicitors?
A solicitor would need to be really poor in order to consider changing them. Has the mortgage been sent? If so you need to make them aware of the new contact details and get the loan are re-issued. Your solicitor ideally should be on the lenders approved list to avoid supplemental charges and delays. That should be your starting point. The find a solicitor tool can help you find a lender approved solicitor for your conveyancing in Chandlers Ford
Me and my husband are selling a Chandlers Ford flat we inherited 5 years ago in 2012. I have over a decades worth of conveyancing knowledge and, now retired, intend to undertake my own legal work. The buyer's lawyer has informed me that their bank will not allow us to do our own conveyancing mandating that the funds to be transferred to a solicitor's bank account.
Mortgage instructions to lawyers from all CML members specify that If the seller is not legally represented the buyer’s lawyers should check whether the lender needs to be informed so that a decision can be reached if they are willing to move forward.