I am five weeks into the sale of my maisonette in Great Linford and the EA has just text me to say that the purchasers are switching law firm. The excuse is that the lender will only engage with property lawyers on their approved list. On what basis would a major lender only deal with specific law firms rather the firm that they want to appoint for their conveyancing in Great Linford ?
Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been tightened 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. 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 purchasers are unlikely to have any sway in the decision.
We are looking to buy a house and require a conveyancing solicitor in Great Linford who is on the RBS approved panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for RBS . We don't recommend any particular firms conducting conveyancing in Great Linford.
Various web forums that I have visited warn that are the number one cause of hinderance in Great Linford house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Great Linford.
How does conveyancing in Great Linford differ for new build properties?
Most buyers of new build or newly converted property in Great Linford approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because new home sellers in Great Linford usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Great Linford or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Great Linford prior to appointing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend refuse to give a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Great Linford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Great Linford to see if the conveyancing costs will increase in light of this.
As co-executor for the estate of my uncle I am disposing of a residence in Monmouth but live in Great Linford. My conveyancer (approximately 260 miles awayneeds me to execute a stat dec ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Great Linford to witness this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Great Linford based