I am selling my flat in Durham and the estate agent has just e-mailed to say that the purchasers are swapping solicitor. The excuse is that the mortgage company will only deal with solicitors on their approved list. Why would a big named lender only work with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Durham ?
UK lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks attribute this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed 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 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 sway in the decision.
My partner and I are acquiring our first house. The lawyer has calledto ask if we want to purchase supplemental conveyancing searches. Frankly we in the dark as to what's appropriate for conveyancing in Durham
The range of Durham conveyancing searches should be triggered based entirely on the property, the location, the probability of any of these risks, your knowledge of the region and risks, your general approach to risk. What is important is that you properly comprehend what information the searches could provide. You may then decide if you personally think you need that search. Should you be uncertain, ask your lawyer to recommend.
Do I need to pay for insurance to cover chancel repairs when acquiring a residence in Durham?
Unless a previous purchase of the house completed after 12 October 2013 you can take it that lawyers carrying out conveyancing in Durham to continue to suggest a chancel search and or chancel repair liability policy.
Am I right to be suspicious by brokers that I am dealing with are suggesting a national conveyancing firm as opposed to a local Durham conveyancing firm?
As is the case with many service providers, often suggestions from relatives can be most helpful. Yet there are many players in a conveyancing matter; estate agents, mortgage brokers and banks might all suggest solicitors to choose. Sometimes the solicitors might be known to one of the organisations as being good in their field, but sometimes there may be a financial incentive behind the recommendation. You are at liberty to appoint your preferred lawyer. Don't forget that the majority of banks specify a panel list of solicitors you are obliged to use for the lender related work in your conveyancing.
I've recently bought a leasehold property in Durham. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Durham - Examples of Questions you should consider before buying
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Does the lease include onerous restrictions? How much is the ground rent and service charge? Can you tell me if there are any major works anticipated that will likely increase the maintenance costs?
How easy is it to change a solicitor as I need to find a Durham based firm who is on the lender conveyancing panel. Is it practical to instruct different lawyers?
In the event that you have not formally appointed a solicitor to commence the conveyancing and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Durham that you're thinking of instructing.