I am selling my maisonette in Cowfold and the estate agent has just text me to advise that the buyers are swapping solicitor. The excuse is that the mortgage company will only engage with property lawyers on their approved list. On what basis would a big named mortgage company only engage with certain lawyers rather the firm that they want to choose to handle their conveyancing in Cowfold ?
Banks have always had an approved set of law firms that can act for them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions attribute this action to a rise in fraud as the reason for the pruning – criteria have been tightened 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 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 unlikely to have any impact on this.
My partner and I intend to remortgage our apartment in Cowfold with UBS. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to UBS. This is solely used to protect UBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of UBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have been told that property searches are the primary cause of obstruction in Cowfold conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Cowfold.
I used Wolstenholmes a few years ago for my conveyancing in Cowfold. Now, I need my files but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Cowfold of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Is there anything unique about your site and alternative online quote calculators when it comes to conveyancing in Cowfold?
At this site secure a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Cowfold. Unlike many estate agents and brokerage sites we do not charge firms a commission if you instruct them for your conveyancing in Cowfold
Builders have put forward a property lawyer and I've sought a quote from them. It's nearly £400 less expensive than my family Cowfold conveyancing practitioner. Should I use them?
Developers normally have lists of lawyers who expedite matters and who know the builder's contract and conveyancer. As many developers offer an incentive to select a preferred lawyer for this reason, any increased fees can be avoided and a developer won't suggest a conveyancing warehouse and run the risk of having the transaction stall when they require an exchange in 28 days. The argument for not agreeing to use the recommended solicitor is that they may be hesitant to 'push' your interests at the risk of upsetting the developer. If you worry that this may be the case you should keep with your high street Cowfold solicitor.