I am progressing with the sale of my home in Knaresborough and the EA has just called to warn that the purchasers are swapping conveyancer. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a major lender only work with certain lawyers rather the firm that they want to select to handle their conveyancing in Knaresborough ?
Lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lenders blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. 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 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 purchasers are unlikely to have any sway in the decision.
At what point will exchange of contracts occur in purchase conveyancing in Knaresborough and am I required to attend the conveyancers branch?
Where you are in close proximity to our conveyancing solicitors in Knaresborough you are invited in to sign the paperwork. That being said, the lender approved solicitors we work with offer a nationwide conveyancing service and give as equally detailed and professional a job for you when communicating with you by post or email. The executing of the property agreement is not when everything is set in stone. Signing on the dotted line simply enables the conveyancer to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Knaresborough)to be in the office at the appropriate time.
Various web forums that I have visited warn that are a common cause of hinderance in Knaresborough house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Knaresborough.
How does conveyancing in Knaresborough differ for new build properties?
Most buyers of new build or newly converted property in Knaresborough contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Knaresborough usually 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 property lawyers 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 used to new build conveyancing in Knaresborough or who has acted in the same development.
How do I use your search facility to choose a conveyancing solicitor in Knaresborough on the panel for my lender?
Step one is to select a lender such as Santander, Barnsley Building Society or Godiva Mortgages Ltd then specify your location such as Knaresborough. Conveyancing firms in Knaresborough and across England and Wales should be identified.
My father-in-law has recommend that I instruct his conveyancers in Knaresborough. Should I use them?
Much as we are happy to recommend a Knaresborough conveyancing lawyer it’s preferable to select a conveyancing lawyer is to get recommendations from friends or relatives who have previously instructed the conveyancer that you are are thinking of instructing.