I am progressing with the sale of my flat in Redland and the EA has just text me to warn that the purchasers are changing their conveyancer. I am told that this is due to the fact that the bank will only work with solicitors on their approved list. Why would a major mortgage company only work with specific law firms rather the firm that they want to appoint to handle their conveyancing in Redland ?
Lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lenders blame a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal 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. The purchasers are not going to have any sway in the decision.
Completed the sale of my flat in Redland last October but the buyer keeps Skype messaging me to moan that her lawyer is waiting to hear from mysolicitor. What should my lawyer have done now that I have sold?
Post completion of your sale your solicitor should deliver the transfer deeds and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor must also send confirmation that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There is unlikely to be post completion procedures unique to conveyancing in Redland.
Is there a list of Nationwide panel conveyancers in Redland on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings viewable over the internet. If you are looking for a Redland property lawyer on the Nationwide please use our tool.
I currently have a mortgage with Yorkshire BS for my property in Redland. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?
Yorkshire BS must be informed of your intention prior to letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel solicitor.
I recently had an offer agreed on a house in Redland. My mortgage broker pressured me to appoint their solicitor. I paid an upfront payment of £175. Shortly after, the property lawyer called me embarrassingly acknowledging that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I need some quick conveyancing in Redland as I have a deadline to complete inside one month. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?
If.Given you are not taking a home loan you are at liberty not to do searches although no conveyancer would recommend that you don't. With plenty of history conveyancing in Redland the following are instances of issues that can crop up and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Overdue Grants, Railway Schemes,...
Despite weeks of looking the Title Certificate and documents to my house are lost. The conveyancers who conducted the conveyancing in Redland 10 years ago are no longer around. Will I be able to sell the house?
You no longer need to hold title deeds to prove you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
I am looking for a flat up to £245,000 and identified one round the corner in Redland I like with open areas and railway links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Redland suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years may be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.