I am selling my house in Cudworth and the estate agent has just text me to say that the purchasers are swapping conveyancer. The reason given is that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a big named lender only deal with certain lawyers rather the firm that they want to choose to handle their conveyancing in Cudworth ?
Lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been tightened 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. 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 buyers are not going to have any sway in the decision.
Do lenders provide you with an approved list of Cudworth conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?
Cudworth conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
I have an AIP. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather use a specialised conveyancing solicitor in Cudworth?
Do check but the the likelihood is that appoint one of their panel solicitors if you take up the "fee-free" deal. Contact the mortgage company to determine if they make available a monetary alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Cudworth.
I am purchasing a property in Cudworth. An unusual aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Barclays your lawyer must comply with the conveyancing requirements outlined in Section two of UK Finance Lenders’ Handbook for Barclays. The CML Handbook contains minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Barclays where a lease does not comply with these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Cudworth.
My fiancee and I are in the throws of viewing apartments in Cudworth and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with Nottingham.
It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are getting a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
The mortgage over my property is with Principality for my property in Cudworth. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval before letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel solicitor.
Do commercial conveyancing searches disclose impending roadworks that may affect a commercial site in Cudworth?
Its becoming the norm that commercial conveyancing solicitors in Cudworth will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Cudworth. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cudworth.
For every commercial conveyancing transaction in Cudworth it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Cudworth commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Cudworth.
Given that I will soon spend 450k on a property in Cudworth I wish to talk to a lawyer concerning thehome move in advance of instructing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor who will be conducting your conveyancing in Cudworth.There is no ‘factory style conveyancing’ - each client is an important individual, not a file number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Cudworth should be the amount on the final invoice that you are charged.