I am nearing exchange of contracts for my home in Greenfield and the estate agent has just called to advise that the purchasers are swapping conveyancer. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their approved list. On what basis would a major lender only work with specific law firms rather the firm that they want to choose for their conveyancing in Greenfield ?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some 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 impact on this.
Are there restrictive covenants that are commonly identified as part of conveyancing in Greenfield?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Greenfield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Greenfield differ for new build properties?
Most buyers of new build property in Greenfield contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Greenfield typically acquire the real estate, 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 conveyancing solicitors 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 Greenfield or who has acted in the same development.
Is it possible to swap firm as I need to find one who is on the Virgin Money conveyancing list. I was using a high street conveyancing solicitor in Greenfield five minutes from me but she is not approved by Virgin Money
It would be our pleasure to help you select a conveyancing solicitor in Greenfield on the Virgin Money panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Greenfield. In making use of the find a conveyancing solicitor tool on this page, you can contrast fees for conveyancing solicitors in Greenfield and throughout England and Wales.
Am I best advised to use a Greenfield conveyancing solicitor in close proximity to the house I am buying? We have a good friend who can perform the legal work but his firm is located 300miles drive away.
The primary upside of using a high street Greenfield conveyancing practice is that you can pop in to sign paperwork, deliver your ID and pester them if necessary. They will also have local intelligence which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were content that must outweigh using an unfamiliar Greenfield conveyancing solicitor solely due to them being local.
I’m about to sell my ground floor flat in Greenfield. Conveyancing lawyers have not yet been instructed, however I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you pay the maintenance contribution as you normally would given that all ground rent and service invoices should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Greenfield - Examples of Questions you should ask Prior to buying
Is the freehold owned collectively by the leaseholders? How many of the leaseholders are in arrears for their service charge payments?