I am nearing exchange of contracts for my maisonette in Cheetham Hill and the estate agent has just telephoned to advise that the buyers are swapping property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their conveyancing panel. On what basis would a leading mortgage company only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Cheetham Hill ?
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 many years.
Lenders justify this action to a rise in fraud as the reason for the cull – criteria have been narrowed 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 says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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. Your purchasers are not going to have any impact on this.
Last November we completed a house move in Cheetham Hill. We have noticed several problems with the house which we consider were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that needed to have been ordered as part of conveyancing in Cheetham Hill?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Cheetham Hill. Conveyancing searches and due diligence initiated during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a property owner fills in a form referred to as a Seller’s Property Information Form. If the information is inaccurate, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Cheetham Hill.
What is the optimum way to check that the solicitor handling my conveyancing in Cheetham Hill is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Chelsea Building Society thus paying £175.00 in additional conveyancing invoice.
Please do make the most of the search tool on this web page. Pick the mortgage company and type ‘Cheetham Hill’ or your preferred area and you will be presented with a number of lawyer located in Cheetham Hill or nearest you.
4 months have gone by since my purchase conveyancing in Cheetham Hill took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey done on a house in Cheetham Hill before instructing lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some lenders may not give a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cheetham Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
I am purchasing a house with all finances in place. I have provided lawyer with two distinct forms of photo ID, bank statement, endless utility bills. Now he needs a copy from a probate lawyer advising that the funds are in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Cheetham Hill conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.