I am selling my ground floor flat in Gainsborough and the estate agent has just called to advise that the purchasers are swapping property lawyer. The excuse is that the mortgage company will only engage with property lawyers on their approved list. On what basis would a major lender only engage with specific law firms rather the firm that they want to choose to handle their conveyancing in Gainsborough ?
Banks have always had panels of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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. The buyers are unlikely to have any sway in the decision.
What is the first thing I need to know about purchase conveyancing in Gainsborough?
Not many law firms shout this from the rooftops but conveyancing in Gainsborough or throughout Lincolnshire is an adversarial experience. Put another way, when it comes to conveyancing there is plenty of room for conflict between you and others involved in the transaction. E.g., the seller, estate agent and sometimes a mortgage company. Selecting a law firm for your conveyancing in Gainsborough an important selection as your conveyancer is your adviser, and is the SOLE party in the legal process whose responsibility is to look after your best interests and to protect you.
There is a definite ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. We recommend that you must always trust your conveyancer ahead of the other players in the conveyancing process.
My Conveyancer in Gainsborough is not listed on the Godiva Mortgages Ltd Approved Panel. Can I still use my family solicitor notwithstanding that they are excluded from the Godiva Mortgages Ltd approved list?
The limited options open to you here include:
- Complete the purchase with your existing Gainsborough lawyers but Godiva Mortgages Ltd will need to instruct a solicitor on their list of acceptable firms. This will result in additional overall conveyancing fees as well as cause delays.
- Get a new lawyer to act in the purchase, remembering to check they are Godiva Mortgages Ltd approved.
- Try to convince your Godiva Mortgages Ltd based solicitor to seek to join the Godiva Mortgages Ltd panel
Have purchased a a detached house in Gainsborough , how long should it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Gainsborough conveyancing solicitor has been painfully slow, so I want to be sure that my name is recorded.
As far as conveyancing in Gainsborough registration is no quicker or slower than anywhere else in the country. Rather than based on location, timeframes can differ according to the party submitting the application, whether it is in order and whether the Land registry must send notices to any interested persons or bodies. As of today in the region of three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be protracted delays. Historically registration occurs once the new owner is living at the premises thus post completion formalities is not usually an essential issue yet if it is urgent that the the registration takes place urgently then you or your lawyers should speak with the land registry and explain the circumstances.
I opted to have a survey completed on a house in Gainsborough before appointing conveyancers. I have been told that there is a flying freehold element to the property. The surveyor has said that some mortgage companies tend not give a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Gainsborough. Conveyancing may be slightly more expensive based on your lender's requirements.
I am downsizing from my home. My former conveyancers closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Gainsborough if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Gainsborough. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.