I am in the process of selling my ground floor flat in Childwall and the EA has just telephoned to warn that the purchasers are switching conveyancer. I am told that this is due to the fact that the lender will only deal with solicitors on their conveyancing panel. On what basis would a major lender only work with specific law firms rather the firm that they want to select to handle their conveyancing in Childwall ?
Mortgage companies have always had panels of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lending institutions point to the increase in fraud as the reason for the reduction – 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 claims that it is being contacted daily by practices that have been removed from panels. Some 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 buyers are not going to have any impact on this.
Is there a reason why leasehold purchase conveyancing in Childwall costs more?
Childwall leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My brother-in-law has suggested I instruct a conveyancing solicitor in Childwall. I need to find out whether they are accepted on the Leeds Building Society approved list of lawyers. Can you advise?
You should e-mail the solicitor and enquire if they are on the lender panel. Alternatively please call Leeds Building Society who may be able to confirm.
My wife and I own a terraced Georgian property in Childwall. Conveyancing solicitor acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold with the matching property. Is it worth asking Barclays Direct to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Childwall and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing solicitor who conducted the work.
What does commercial conveyancing in Childwall cover?
Commercial conveyancing in Childwall incorporates a wide array of advice, offered by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
My cousin has encouraged me to instruct his conveyancing solicitors in Childwall. Do I take his recommendation?
No doubt it’s preferable to select a conveyancing lawyer is to seek feedback from friends or relatives who have actually experience in using the solicitor that you are are thinking of instructing.