I am in the process of selling my flat in Portsmouth and the estate agent has just called to advise that the purchasers are appointing a new law firm. I am told that this is due to the fact that the bank will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only engage with certain lawyers rather the firm that they want to choose to handle their conveyancing in Portsmouth ?
Mortgage companies have always had an approved set of law firms that can represent 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 many years.
Mortgage companies justify this action to a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal 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 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. Your buyers are unlikely to have any sway in the decision.
Last July we completed a house move in Portsmouth. We have since encountered a number of problems with the property which we believe were overlooked in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that should have been ordered for conveyancing in Portsmouth?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Portsmouth. Conveyancing searches and due diligence initiated during the buying process are carried out to help avoid problems. As part of the process, a property owner completes a document known as a Seller’s Property Information Form. answers is misleading, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Portsmouth.
We are buying a flat and need a conveyancing solicitor in Portsmouth who is on the Santander conveyancing panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Santander . We don't recommend any particular firms conducting conveyancing in Portsmouth.
Forgive me if this question is silly but I am wet behind the ears as a first time buyer of a two bedroom flat in Portsmouth. Do I collect the keys to the house on the completion date from my conveyancer? If so, I will instruct a High Street conveyancing solicitor in Portsmouth?
On the day of completion you do not need to go to the conveyancers office in Portsmouth. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's lawyers, and once they have received this, you should be invited to receive the keys from the Estate Agents and move into your new home. Usually this happens early afternoon.
Last month we had a mortgage agreed in principle with Yorkshire BS. Portsmouth conveyancing lawyers are instructed. How long does it take for Yorkshire BS to issue the offer to the conveyancer?
Some lenders take longer than others. Have Yorkshire BS done the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Leeds Building Society have agreed my mortgage in principle, my bid on a apartment in Portsmouth has been agreed to, now what?
The property agent will want to be advised as to your solicitor's details (make sure the conveyancing practitioners are on the lender’s panel). Contact Leeds Building Society or the financial adviser and finish off any relevant documentation. Leeds Building Society will sellect a valuer who will get in contact with the selling agent or owners to schedule a slot for the valuation to occur. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Leeds Building Society will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Portsmouth.
About to purchase a new build apartment in Portsmouth. 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 selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Portsmouth
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I am looking into buying my first house which is in Portsmouth and I am already nervous. I couldn't find anything specific about Portsmouth. Conveyancing will be needed in due course but do you know about the Portsmouth area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Portsmouth. In the meantime here are some basic statistics that we found