I am nearing exchange of contracts for my ground floor flat in Great Harwood and the estate agent has just e-mailed to warn that the buyers are switching property lawyer. The reason given is that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only deal with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Great Harwood ?
Lenders have always had panels of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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 purchasers are not going to have any sway in the decision.
A friend pointed out to me me that in buying a property in Great Harwood there may be various restrictions preventing external changes to the property. Is this right?
There are a number of properties in Great Harwood which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Great Harwood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Leeds Building Society, do Great Harwood lawyers have to pay a fee to be on the conveyancing panel?
We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
After months of negotiation I have agreed a price on an apartment in Great Harwood. My financial adviser suggested a property lawyer. I paid an advanced payment of £200. A few days later, the lawyer contacted me sheepishly admitting that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Have completed on a a detached house in Great Harwood , how long will it take for the Land Registry to register my ownership? My Great Harwood conveyancing solicitor has been painfully slow, so I want to be certain that my purchase is recorded.
There is nothing unique about conveyancing in Great Harwood registration formalities. Rather than based on location, timescales can differ according to who lodges the application, whether it is in order and whether the Land registry communicate with any other parties. As of today in the region of three quarters of submission are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Historically registration occurs once the buyer has moved in to the property thus 'speed' is not typically an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer should speak with the land registry and explain the circumstances.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Great Harwood is where the house is located. Is there any advice you can impart?
Flying freeholds in Great Harwood are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Great Harwood you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Great Harwood may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
How does the Landlord & Tenant Act 1954 impact my business offices in Great Harwood and how can you help?
The 1954 Act affords security of tenure to business leaseholders, giving them the a statutory right to make a request to court for a new tenancy and remain in occupation at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Great Harwood is one of the numerous locations in which our lawyers have offices
We're new on the property ladder - had an offer accepted, but the agent advised that the owners will only go ahead if we instruct the agent's chosen lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local conveyancer who is accustomed to conveyancing in Great Harwood
We suspect that the seller is unaware of this demand. Should the vendor desire ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Speak to the vendors direct and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you intend to instruct your preferred Great Harwood conveyancing lawyers - as opposed tothe ones that will give the estate agent a kickback or meet his conveyancing targets demanded by corporate headquarters.