I am in the process of selling my home in Edgbaston and the estate agent has just telephoned to advise that the purchasers are swapping conveyancer. The excuse is that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a major lender only engage with specific law firms rather the firm that they want to choose for their conveyancing in Edgbaston ?
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 HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to oversee. 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 are unaware that 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 brother and I have recently acquired a property in Edgbaston. We have noticed several problems with the house which we believe were overlooked in the conveyancing searches. Do we have any recourse? What searches should? have been conducted as part of conveyancing in Edgbaston?
The query is vague as to the nature of the problems and if they are unique to conveyancing in Edgbaston. Conveyancing searches and investigations undertaken as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, a seller completes a questionnaire referred to as a SPIF. If the information proves to be inaccurate, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Edgbaston.
I am in the process of refinancing my house in Edgbaston, does my lawyer have to be on the UBS Conveyancing panel?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Just bought a detached house in Edgbaston , how long should it take for the Land Registry to register my proprietorship? My Edgbaston conveyancing solicitor works at snail pace, so I want to check that my name is registered.
As far as conveyancing in Edgbaston registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can vary subject to who lodges the application, whether there are errors and whether the Land registry must send notices to any interested persons or bodies. At present approximately 80% of such applications are fully dealt with in less than three weeks but occasionally there can be longer delays. Historically registration takes place after the buyer has moved in to the premises therefore 'speed' is not typically top priority yet if there is a degree of urgency associated with the registration then you or your solicitor must speak with the land registry and explain the circumstances.
I'm converting the mortgage on my existing property to a buy to let loan with TSB and intend to use the remaining equity as a deposit on further property. The area we are interested in is Edgbaston. Will your lawyers be able to act for the two mortgage companies and link together the transactions?
Do use our search tool on this site to check that the solicitors are approved by both lenders. Having checked that they are your solicitor should be able to tie up the two deals but you should talk with you solicitor and make apparent your desired outcome and needs.
My brother is buying a ground floor flat in Edgbaston. He has received an estimate by the property lawyer connected to the selling agents and it came to £1250 . It was 9 years ago I sold and bought a house and the bill was £440. Have fees really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Edgbaston searches, land registry fees, etc)