I am in the process of selling my home in Ivybridge and the EA has just called to warn that the buyers are switching law firm. The reason given is that the lender will only work with solicitors on their approved list. On what basis would a leading mortgage company only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Ivybridge ?
Lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed 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 pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say 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 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 purchasers are unlikely to have any impact on this.
We're in Ivybridge, First timers purchasing with a mortgage (lender is Bank of Ireland , and our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Ivybridge conveyancing practitioner on the HSBC panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Ivybridge. I have a mortgage offer with UBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
Completion of my remortgage has taken place for my property in Ivybridge. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Will commercial conveyancing searches disclose impending roadworks that could impact a commercial property in Ivybridge?
Its becoming the norm that commercial conveyancing solicitors in Ivybridge will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Ivybridge. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Ivybridge.
For every commercial conveyancing transaction in Ivybridge it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Ivybridge commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Ivybridge.
I have todaybeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Ivybridge for a purchase of a freehold house 12 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The easiest way to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ivybridge conveyancing specialists.
I opted to have a survey carried out on a house in Ivybridge prior to appointing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some lenders will not give a mortgage on such a house.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. If you call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ivybridge. Conveyancing will be smoother if you use a solicitor in Ivybridge especially if they are accustomed to such properties in Ivybridge.