I am one month into the sale of my home in Lavenham and the estate agent has just text me to advise that the buyers are appointing a new law firm. The reason given is that the lender will only deal with property lawyers on their approved list. On what basis would a big named lender only work with certain law firms rather the firm that they want to select to handle their conveyancing in Lavenham ?
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 Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lending institutions blame a rise in fraud by way of justification for the reduction – 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. 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 impact on this.
After scouring mumsnet.com for an online solicitor in Lavenham, most say that I should instruct a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's major lenders. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Society for Licensed Conveyancers. Lavenham is one of the many areas in England and Wales where there are CQS lawyers.
My wife and I are intent on selling our home in Lavenham and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers used an online conveyancing outfit as opposed to a conveyancing solicitor in Lavenham. Having lived in Lavenham for three years we know that this is a non issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
How does conveyancing in Lavenham differ for newly converted properties?
Most buyers of new build property in Lavenham contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Lavenham usually purchase the land, 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 conveyancers 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 accustomed to new build conveyancing in Lavenham or who has acted in the same development.
What is different about your site and other online quote calculators when it comes to conveyancing in Lavenham?
At this site get an accurate costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Lavenham. As opposed to estate agents and many comparison sites we do not operate kick-back arrangements with solicitors. A large number of agents and online brokers 'recommend' the firm that pays the most per referral, rather than the best value conveyancing in Lavenham
Am I best advised to use a Lavenham conveyancing solicitor based in the area that I am purchasing? I have an old university friend who can perform the legal work however her office is over three hundred kilometers drive away.
The benefit of a high street Lavenham conveyancing firm is that you can attend the office to sign documents, hand in your ID and pester them where appropriate. Having local Lavenham know how is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that should surpass using an unknown Lavenham conveyancing lawyer solely due to them being based in the area.