I am 4 weeks into the sale of my ground floor flat in Chorley and Eccleston and the estate agent has just called to advise that the buyers are appointing a new solicitor. The reason given is that the bank will only engage with property lawyers on their approved list. Why would a leading mortgage company only work with certain law firms rather the firm that they want to select to handle their conveyancing in Chorley and Eccleston ?
UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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 buyers are unlikely to have any impact on this.
My wife and I are buying a new build apartment in Chorley and Eccleston and my lawyer is informing me that she has to the bank to reveal incentives from the builder. I am under pressure to exchange contracts and I would rather not delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have justdiscovered that Action Conveyancing have closed. They conducted my conveyancing in Chorley and Eccleston for a purchase of a leasehold flat 12 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The quickest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chorley and Eccleston conveyancing specialists.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Chorley and Eccleston is the location of the property. Can you shed any light on this issue?
Flying freeholds in Chorley and Eccleston are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chorley and Eccleston you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chorley and Eccleston may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Is there anything unique about your site and alternative internet conveyancing solicitors for conveyancing in Chorley and Eccleston?
At this site get a conveyancing quote from a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Chorley and Eccleston. Unlike many estate agents and brokerage sites we do not operate referral arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors that pays the most commission, not the best value conveyancing in Chorley and Eccleston
Is it best to use a Chorley and Eccleston conveyancing lawyer based in the vicinity that I am buying? We have a good friend who can deal with the legal work but they are based a couple of hundredmiles drive away.
The benefit of a local Chorley and Eccleston conveyancing firm is that you can attend the office to execute paperwork, deliver your ID and apply pressure on them where appropriate. Having local Chorley and Eccleston know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and in the main were content that must surpass using an unknown Chorley and Eccleston conveyancing solicitor just because they are round the corner.