I am in the process of selling my house in Patcham and the estate agent has just called to warn that the purchasers are appointing a new solicitor. The reason given is that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only work with certain law firms rather the firm that they want to select for their conveyancing in Patcham ?
Mortgage companies have always had an approved set of law firms that can represent them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks justify this action to a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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 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.
Forgive me if this question is silly but I am new to the house moving as a 1st time purchaser of a two bedroom flat in Patcham. Do I receive the keys to the premises on completion from my lawyer? If so, I will use a local conveyancing solicitor in Patcham?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's solicitors, and shortly after the monies have arrived, you should be called to receive the keys from the property Agents and move into your new home. This tends to happen early afternoon.
I am buying a detached bungalow in Patcham. The intention is to carry out a loft conversion at the property.Will the conveyancing process involve enquiries to ascertain if these alterations are permitted?
Your property lawyer will check the registered title as conveyancing in Patcham will on occasion reveal restrictions in the title deeds which restrict certain changes or need the consent of a 3rd party. Many additions require local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
is it true that all Patcham solicitors on the Nationwide conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Nationwide approved list of solicitors they would need to be regulated by the SRA. Some banks do allow licenced conveyancers on their panel and in such a situation the practice would be regulated by the CLC.
A friend recommended that where I am buying in Patcham I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Patcham conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Patcham around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Patcham Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Patcham Education with plans and statistics, Local Amenities and other useful information about Patcham.
I am downsizing from my house. My former lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Patcham if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Patcham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
As co-executor for the will of my grandmother I am disposing of a residence in Monmouth but reside in Patcham. My conveyancer (based 260 miles awayneeds me to sign a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in Patcham who can attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Patcham based
I am short of a 10% deposit on my apartment purchase in Patcham , but I am keen exchange. Do I have options?
You can accept a lesser deposit. Many sellers will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment