I am 4 weeks into the sale of my apartment in Milton and the estate agent has just called to warn that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the lender will only work with solicitors on their conveyancing panel. On what basis would a major mortgage company only deal with specific lawyers rather the firm that they want to choose for their conveyancing in Milton ?
Mortgage companies have always had panels of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions point to the increase in fraud by way of justification for the pruning – 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 says it is being contacted daily by practices that have been removed from panels. Some 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.
My husband and I are purchasing a newly constructed duplex in Milton and my solicitor is informing me that she has to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We just had an offer accepted to buy with Loughborough BS. We have called around locally but am struggling to find a Milton conveyancing firm on the Loughborough BS approved list. Please you help?
Please do take advantage of the find a lender approved solicitor tool on this site. Pick the building society and type Milton or your preferred area and you will see numerous solicitors based in Milton or near you.
We are close to exchanging contracts on the sale of our home in Milton and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed a national conveyancing practice as opposed to a conveyancing solicitor in Milton. Having lived in Milton for 5 years we know that this is a non issue. Should we contact our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. 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 health insurance to cover that same ailment)
Just had an offer accepted on a new build flat in Milton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Milton
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared.
I am a sole trader wishing to lease a unit on the high street. Can you recommend conveyancers offering fixed fees for commercial conveyancing in Milton for less than 2k?
We can recommend firms who have specialist knowledge of commercial conveyancing in Milton, including the sale and acquisition of businesses as well as simply premises. If you are hoping to purchase or dispose of a shop, pub, restaurant, office, retail unit or a complete business we will put you in touch with the right lawyer. Regarding the costs this will depend on the structure and terms of the proposed transaction. Let us have your details or email us so that we may furnish you with a detailed commercial conveyancing quote.