I am in the process of selling my maisonette in Kingsland and the estate agent has just called to advise that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. On what basis would a major mortgage company only deal with specific law firms rather the firm that they want to appoint for their conveyancing in Kingsland ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms 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. Your buyers are not going to have any impact on this.
I am under pressure from the executor of a property in Kingsland to exchange within four weeks. What can I do to speed up matters?
In the event that you are under time constraints for your conveyancing it is advisable to make sure that your lawyer is familiar with the area as they will make use of local connections and insight. It is possible that they may have transacted previoushomes in the same neighbourhood. You would be best advised to use a Kingsland conveyancing solicitor. In addition, ensure that the lawyer is on the lender panel. It is said that nearly one in five of Kingsland conveyancing deals are frustrated or jeopardised after discovering a purchaser’s solicitor was not on their mortgage lender’s panel. In many cases this discovery resulted in the home move being delayed by an average of three weeks. It is believed that this issue affects in the region of 100,000 home sales annually. Almost all Kingsland conveyancing firms can not act for certain lenders so do check as early as possible.
Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial land in Kingsland?
Many commercial conveyancing solicitors in Kingsland will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Kingsland. The report sets out 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 Kingsland.
For each commercial conveyancing transaction in Kingsland it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Kingsland commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Kingsland.
I have justbecome aware that Stirling Law have closed. They carried out my conveyancing in Kingsland for a purchase of a freehold house 18 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest method to check if the property is registered to you, you can carry out 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 Kingsland conveyancing specialists.
We are 3 weeks into a residential purchase having been recommend to a firm by the selling agent to perform conveyancing in Kingsland. I am am starting to be frustrated with the level of service. Can you you assist me in finding new conveyancers?
They would need to be very bad to suggest diss instructing them. Has your mortgage been issued? In the event that it has you must advise them of the new contact details and ensure the loan are re-sent. Your conveyancer needs to be on the mortgage company panel to avoid added fees and delays. So that should be your first question of the new solicitors. The find a solicitor tool can help you find a lender approved lawyer for your conveyancing in Kingsland
We have an offer in principle from Clydesdale who indicated we could borrow up to £218k. When do we need to instruct a lawyer for conveyancing? Kingsland is where we are buying.
You can appoint a property lawyer now so that the conveyancer can open the ledger so they can do their ID checks etc. Once you wish them to start work they will seek a deposit usually about £175. That should generally be once you have the mortgage offer and valuation results, however if you wish to speed matters you can start the ball rolling quicker albeit risking some money.