I am progressing with the sale of my house in Kemp Town and the EA has just text me to advise that the buyers are appointing a new law firm. The reason given is that the bank will only work with solicitors on their approved list. On what basis would a leading lender only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Kemp Town ?
Banks have always had an approved set of law firms they are content to work with, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders blame a rise in fraud by way of justification for the pruning – criteria have been narrowed 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 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. The buyers are not going to have any sway in the decision.
We are about to sign contracts for a leasehold flat in Kemp Town. We have hit a problem. The mortgage offer with Clydesdale runs out on 14/8/2025 but the vendors are putting forward a completion date of 18/8/2025. Is it possible to prolong the loan expiry date?
The best person to deal with your issue is your solicitors who will hopefully assess whether he or she is corresponding with the lender, vendor’s representatives, estate agents or possibly all three based on what has gone on in your house move as of today.
Are all Kemp Town Conveyancing Quality Solicitors on the Co-operative conveyancing list of approved solicitors?
Some major banks and building societies now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Is it the case that all Kemp Town solicitors on the Skipton conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Skipton approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
My offer was accepted on a house in Kemp Town on 28/4/2025, valuation was booked 4 days after, received a clean bill of health. Solicitor instructed, so all that was missing was my mortgage offer. Having made daily calls to Bank of Ireland and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Bank of Ireland conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
Am I right to be suspicious by estate agents that I am dealing with are suggesting a factory type conveyancing firm rather than a local Kemp Town conveyancing firm?
As with lots of professional services, often referrals from relatives can be very helpful. Nevertheless there are many players in a conveyancing matter; estate agents, mortgage brokers and banks might all suggest solicitors to instruct. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the right to appoint your own conveyancer. However, bear in mind that the majority of lenders operate an approved list of conveyancers you have to use for the lender related work in your conveyancing.
I am in need of some leasehold conveyancing in Kemp Town. Before diving in I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Kemp Town - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Kemp Town Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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Its a good idea to find out as much as you can about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the cleanliness of the common parts. Enquire of prospective neighbours what they think of them. In conclusion, find out the dates that the maintenance fees are due to the managing agents and precisely what it includes. How much is the maintenance charge and ground rent on the property? Are any of leasehold owners in arrears of their service charge payments?
How and when do I pay stamp duty payable for my conveyancing in Kemp Town?
The majority of conveyancers will fill out a Land Transaction Return Form for you during your Kemp Town purchase transaction for signature. After completion your lawyer will submit the Land Transaction application to the Inland Revenue and - as long as they have the funds - pay any tax bill liability for you.