I am in the process of selling my ground floor flat in Laindon and the estate agent has just e-mailed to warn that the buyers are switching conveyancer. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. Why would a leading lender only deal with certain lawyers rather the firm that they want to select for their conveyancing in Laindon ?
UK lenders have always had an approved set of law firms that can act for them, but in the last 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 more than 15 years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to reveal 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. Plenty of firms 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 buyers are not going to have any sway in the decision.
I have been referred to a conveyancing solicitor in Laindon. I need to find out whether they are on the Bank of Ireland conveyancing panel. Could you assist?
You should phone your lawyer and ask them if they can act for the lender. Alternatively you can get in touch with Bank of Ireland who may be able to help.
I have todaybecome aware that Wolstenholmes have closed. They conducted my conveyancing in Laindon for a purchase of a freehold house 18 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The quickest method to check if the property is registered to you, 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 Laindon conveyancing specialists.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Laindon. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Laindon
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared.
I decided to have a survey done on a house in Laindon in advance of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies will not grant a loan on such a premises.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you contact us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Laindon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Laindon to see if the conveyancing costs will increase in light of this.
I have been recommended by two or three local estate agents in Laindon to locate a property lawyer using your seach tool. What’s the financial inducement for Estate Agents to market your services over and above another?
We refuse to give any financial incentive for directing people in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.