I am selling my home in Highbridge and the EA has just e-mailed to warn that the purchasers are swapping conveyancer. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only deal with certain law firms rather the firm that they want to appoint for their conveyancing in Highbridge ?
Lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks attribute this action to a rise in fraud as the reason for the cull – criteria have been narrowed 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 says it is being contacted daily by practices 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 not going to have any sway in the decision.
When can the exchange of contracts happen for sale conveyancing in Highbridge and do I need to attend the solicitors office?
If you are round the corner to our conveyancing solicitors in Highbridge you are welcome to attend to sign documents. That being said, the lender approved solicitors we work with supply countrywide coverage for conveyancing and give as equally diligent and professional a job for you when communicating with you electronically. The signing of the contract is not the point of no return. Signing on the dotted line simply enables the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Highbridge)to be in the office at the appropriate time.
My bid for a property was accepted at auction in Highbridge. Conveyancing is needed. What is next?
Having legally committed yourself to purchase you now have to retain a conveyancing lawyer as a matter of urgency as you are faced with a pending a drop dead date to complete the transaction. Every auction property should have a corresponding legal set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold property the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You need to give this to your appointed conveyancing solicitor ASAP. Do make sure that your finances are organised to complete the transaction on the set completion date.
We had appointed conveyancing lawyers based in Highbridge on the Co-operative solicitor approved list. They are now charging me a supplemental sum for the legal aspects of the Co-operative mortgage. Is this an additional conveyancing fee specified by Co-operative?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner can charge a fee for this. The fee is not dictated by Co-operative but by your Highbridge solicitor. Some firms on the Co-operative panel will quote ’dealing with mortgage’ fee but many firms incorporate it on their overall fee.
I am selling my house. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Barclays are being problematic. The Highbridge solicitor who is on the Barclays conveyancing panel is recommending indemnity insurance as a solution but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
A relative recommended that if I am purchasing in Highbridge I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Highbridge conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Highbridge around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Highbridge Education with maps and statistics, Local Amenities and other useful information regarding Highbridge.
I'm remortgaging my primary home to a BTL mortgage with Nottingham Building Society and I will use the ballance of the raised equity as a down payment on further property. The location we are interested in is Highbridge. Will your lawyers be able to act for the two banks and link together the conveyances?
Make use of our comparison tool on this page to be sure that the solicitors are on the appropriate lender panels. On the basis that they are the conveyancer will be able to simultaneously deal with the two deals but you should talk with you lawyer and communicate your expectations and needs.
How much should conveyancing in Highbridge cost?
The amount you are levied for Highbridge conveyancing charges can differ considerably from company to company. In the circumstances it especially necessary for you to find this out when you first choose a conveyancer. One should always seek three or four fee estimate.