I am six weeks into the sale of my house in Colchester and the estate agent has just text me to advise that the purchasers are changing their conveyancer. The excuse is that the lender will only engage with property lawyers on their approved list. Why would a leading lender only engage with specific solicitors rather the firm that they want to select for their conveyancing in Colchester ?
Lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks justify this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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.
I have given 8 weeks notice to my existing landlord and have to be out of my rented property in Colchester by 13/9/2021. Conveyancing on my purchase has just started. Can I complete in three weeks as I wish to avoid having to move into short term accommodation?
The normal practice is not to serve notice on a rental until your lawyer suggests that you should. If you have not already done so, contact to your conveyancer and request that they seek the assistance the sellers side, try to get a realistic time scale from them that all parties will work towards
I am due to move property in August. Should my conveyancing solicitor communicate with the removal company on the day of completion. As an aside, can you put forward a removal company in Colchester. Conveyancing solicitor was organised before I stumbled across this website.
On the day of completion you will need to pick up the house keys from the estate agent but this can only happen once the sellers lawyers advise the agent that the monies to complete are in and the keys can be released. After that you will need to advise the removal company that they can start moving you in. As a matter of policy we do not recommend a specific removal company but can assist you in finding a conveyancing in Colchester or a firm that specialises in conveyancing in Colchester.
I am purchasing a victorian detached house in Colchester. We would like to an extension at the rear at the property.Will legal work on the property involve investigations to see if these alterations were previously refused?
Your property lawyer should check the deeds as conveyancing in Colchester can occasionally reveal restrictions in the title documents which restrict categories of alterations or necessitated the permission of a 3rd party. Certain extensions call for local authority planning permissions and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
Does a directory service exist listing TSB panel solicitors in Colchester on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings viewable online. Where you are seeking to appoint a Colchester solicitor on the TSB please make the most of our tool.
Should our conveyancer be raising enquiries regarding flooding during the conveyancing in Colchester.
The risk of flooding is if increasing concern for solicitors dealing with homes in Colchester. Some people will acquire a property in Colchester, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, however there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Colchester. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to determine if the premises has suffered from flooding. In the event that the premises has been flooded in past and is not revealed by the seller, then a purchaser could commence a claim for damages resulting from an inaccurate response. The buyer’s conveyancers will also commission an environmental search. This should higlight if there is a recorded flood risk. If so, additional investigations should be initiated.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Colchester is the location of the property. What do you suggest?
Flying freeholds in Colchester are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Colchester you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colchester 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 property.
I dont have enough spare money to pay a 10% deposit on my flat purchase in Colchester , but I still want to go ahead. Do I have options?
You can agree a lesser deposit. Many vendors will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute