I am one month into the sale of my maisonette in Meltham and the estate agent has just text me to advise that the buyers are switching conveyancer. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their approved list. On what basis would a leading mortgage company only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Meltham ?
Mortgage companies have always had panels of law firms that can act for them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many 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 maintain. 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. 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. The buyers are unlikely to have any sway in the decision.
Our Meltham solicitor has uncovered a difference when comparing the information in the valuation report and what is revealed within the title deeds. My solicitor informs me that he needs to ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s approach legitimate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a house in Meltham? or I am told that there is a law dating back centuries that could mean that owners of property residing in a parish church boundary will be compelled to pay for repairs to the chancel in proximity to the church. Is this appropriate for conveyancing in Meltham?
Unless a prior purchase of the property took place post 12 October 2013 you could take it that solicitors delivering conveyancing in Meltham to continue to recommend a chancel search and or chancel repair liability policy.
I purchased a renovated Georgian property in Meltham. Conveyancing practitioner represented me and Nationwide Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Meltham and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing lawyer who conducted the conveyancing.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Meltham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Meltham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Meltham you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Meltham may determine 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.
I am a sole trader looking to lease a unit on the high street. Can you recommend solicitors offering no-move-no charges for commercial conveyancing in Meltham for below 2k?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Meltham, including the sale and acquisition of businesses as well as simply premises. If you are looking to acquire or sell a shop, pub, restaurant, office, retail premises or a complete business we will find you the right solicitor. Regarding the charges this will depend on the structure and heads of terms of the proposed transaction. Please provide us with your contact information or phone so as to enable us to supply you with a fixed commercial conveyancing quote.