I am five weeks into the sale of my flat in Cheadle and the estate agent has just e-mailed to say that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the lender will only deal with property lawyers on their approved list. On what basis would a major lender only deal with specific law firms rather the firm that they want to select for their conveyancing in Cheadle ?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal 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 purchasers are not going to have any sway in the decision.
I have a decision in principle. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would much rather instruct a local conveyancing solicitor in Cheadle?
Do check but the the likelihood is that allocate you one of their panel solicitors should you take up the "fee-free" deal. Speak to the bank to explore if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Cheadle.
I have been told that property searches are the main cause of delay in Cheadle house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Cheadle.
Are there restrictive covenants that are commonly picked up during conveyancing in Cheadle?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Cheadle. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
What tools are available to identify a Cheadle solicitor on the Santander conveyancing panel? I drive a motor bike and am happy to travel upto 10kilometers to meet the solicitor.
Feel free to make use of the search on this website. Please choose the lender and your location and you will see a number of Cheadle conveyancing lawyers locally. We have detailed some Cheadle conveyancing firms towards the end of this page and you can contact them to verify whether they are on the Santander panel
I am purchasing a garden maisonette in Cheadle. Conveyancing solicitor has been waiting for, from the vendor, building insurance schedule. Earlier today I was advised that the owner must forward the insurance paperwork for the flat above also. Why would my property lawyer need to review the insurance for the flat above? Is it really required? We have been in hold for the previous month…
It is not impossible in leasehold conveyancing in Cheadle to discover Conveyancing in Cheadle in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats rather than the landlord insuring the entire building - which is clearly preferable. You should clarify with your conveyancer but it would seem that your conveyancing practitioner is seeking to establish that the complete building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt for lack of insurance cover.