I am progressing with the sale of my house in Purley and the estate agent has just telephoned to say that the buyers are switching law firm. The reason given is that the bank will only engage with solicitors on their conveyancing panel. Why would a leading lender only deal with specific lawyers rather the firm that they want to choose for their conveyancing in Purley ?
Lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been narrowed 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 says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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 purchasers are not going to have any sway in the decision.
Finally the sale completed on my house in Purley last November yet the purchaser is calling every few hours complaining that her lawyer needs to hear from myconveyancer. What are the post completion sale legalities following completion?
After completion of your house sale your lawyer is duty bound to send the transfer documentation and all supplemental paperwork to the purchaser's solicitors. Where relevant, your conveyancer must also confirm that the legal charge in favour of the lender has been repaid to the buyers lawyers. There are no post completion tasks just for conveyancing in Purley.
It has been 4 months since my purchase conveyancing in Purley took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm refinancing my current house to a BTL mortgage with Godiva Mortgages Ltd and I will use the ballance of the raised equity towards further property. The location we are looking at is Purley. Will your conveyancers be able to act for the two banks and link together the conveyances?
Make use of our comparison tool on this page to be sure that the conveyancers are approved by both lenders. Assuming that they are the conveyancer should be able to tie up the two transactions but you should talk with you lawyer and make apparent your expectations and needs.
My father-in-law has encouraged me to use his lawyers for conveyancing in Purley. Should I choose my own conveyancer?
Much as we are happy to recommend a Purley conveyancing lawyer it’s preferable to find a conveyancing lawyer is to get recommendations from friends or relatives who have previously instructed the firm that you are are thinking of instructing.
Is there an average legal costs for conveyancing in Purley?
The average fee last year for conveyancing in Purley was £1,500 excluding Stamp Duty and HM Land Registry fees.