I am selling my home in Longton and the estate agent has just telephoned to say that the buyers are swapping solicitor. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. Why would a major lender only engage with certain law firms rather the firm that they want to choose to handle their conveyancing in Longton ?
Banks have always had panels of law firms that can represent them, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies blame a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose 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. 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 not going to have any impact on this.
We are acquiring our first property. Our solicitor has calledto check if we wish to take out supplemental conveyancing searches. We are really unsure what's relevant for conveyancing in Longton
The range of Longton conveyancing searches should be triggered based entirely on the property, the location, the possibility of any of these risks, your knowledge of the area and risks, your overall appetite to risk. What is important is that you properly appreciate what information each search could provide. You may then decide if you consider that you need that information. Where you are unsure, ask your conveyancer to recommend.
Do commercial conveyancing searches disclose planned roadworks that could affect a commercial estate in Longton?
Many commercial conveyancing solicitors in Longton will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Longton. The report sets out definitive data 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 Longton.
For every commercial conveyancing transaction in Longton it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could cause delays to Longton commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for residential conveyancing in Longton.
How does conveyancing in Longton differ for newly converted properties?
Most buyers of new build premises in Longton approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Longton tend to buy 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 conveyancing solicitors 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 Longton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Longton is the location of the property. Can you offer any assistance?
Flying freeholds in Longton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Longton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Longton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What is different about your site and alternative web based conveyancing brokers when it comes to conveyancing in Longton?
At this site secure a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Longton. Unlike many estate agents and brokerage sites we are not in the business of charging firms a fee if you instruct them for your conveyancing in Longton